"The SEC takes the view that where an officer or director engaged in the fraudulent conduct involving a publicly held company, that person should not be put in the same position again...in practice the SEC views any officer or director of a public company that is directly, or sometimes only tangentially, involved in the alleged fraudulent conduct, as the type of conduct that routinely authorizes it to seek a permanent bar "

http://accounting.smartpros.com/x51496.xml