By Kyle Brasseur2024-05-03T14:27:00
BF Borgers was all but shuttered by the Securities and Exchange Commission on Friday after the agency accused the firm of massive fraud impacting more than 1,500 SEC filings audited over a 2 1/2-year span.
BF Borgers and its owner, Benjamin Borgers, agreed to be permanently suspended from appearing and practicing before the commission as accountants, effective immediately, as part of a settlement, the SEC announced in a press release. The firm was fined $12 million, while Borgers agreed to pay a $2 million penalty.
“Ben Borgers and his audit firm, BF Borgers, were responsible for one of the largest wholesale failures by gatekeepers in our financial markets,” said Gurbir Grewal, director of the SEC’s Division of Enforcement, in the release.
2024-09-26T16:13:00Z By Adrianne Appel
The Public Company Accounting Oversight Board fined five consultancies, including Ernst & Young, as the agency continues its crackdown on firms violating audit committee communications rules and reporting requirements.
2024-05-15T18:52:00Z By Kyle Brasseur
Staff at the Securities and Exchange Commission have observed instances of audit firms setting poor examples for junior-level employees by failing to properly discipline senior leaders found to have breached ethical standards, according to Chief Accountant Paul Munter.
2024-03-28T14:22:00Z By Kyle Brasseur
Chemours disclosed it received requests for information from the Department of Justice and Securities and Exchange Commission regarding findings from an internal review into alleged accounting misconduct by several of its top executives.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
2025-09-11T20:53:00Z By Neil Hodge
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
2025-09-10T22:24:00Z By Adrianne Appel
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
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