“ DEFINITION— For purposes of this subsection, the term ``person participating in an offering of penny stock ́ ́ includes any person engaging in activities with a broker, dealer, or issuer for purposes of issuing, trading, or inducing or attempting to induce the purchase or sale of, any penny stock. The Commission may, by rule or regulation, define such term to include other activities, and may, by rule, regulation, or order, exempt any person or class of persons, in whole or in part, conditionally or unconditionally, from inclusion in such term. ”

“ AUTHORITY TO CENSURE— The Commission may censure any person, or deny, temporarily or permanently, to any person the privilege of appearing or practicing before the Commission in any way, if that person is found by the Commission, after notice and opportunity for hearing in the matter— `` (1) not to possess the requisite qualifications to represent others ”

“ DEFINITION— With respect to any registered public accounting firm or associated person, for purposes of this section, the term ``improper professional conduct ́ ́ means— `` (1) intentional or knowing conduct, including reckless conduct, that results in a violation of applicable professional standards ”