A senior executive at General Re may be sued by the US Securities and Exchange Commission (SEC) as the regulator gets deeper into reinsurance accounting investigations.

Notice of the SEC’s intention to pursue a civil suit and penalties against the unnamed manager was delivered to a senior vice president of Warren Buffett’s Berkshire Hathaway subsidiary last week, but General Re CEO Joseph Brandon declined to identify the individual.

The notice is the first indication the agency may take action against an individual Berkshire Hathaway employee.

It’s also the latest in the ongoing accounting probe of Berkshire Hathaway and its reinsurance clients by the SEC, New York Attorney-General Eliot Spitzer and regulators worldwide.