SEC Buys Time Trying to Settle with Big 4 Firms Over China Flap
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SEC Ends Standoff With Big 4 China Affiliates
The SEC has settled its action against Big 4 affiliates in China that had stymied investigations into possible accounting fraud by refusing to hand over audit work papers. The SEC fined each of the Big 4 affiliates $500,000 while acknowledging that the firms eventually began providing documents.
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The U.S. Securities and Exchange Commission dropped its case against Rio Tinto’s former chief financial officer, who has battled charges for eight years.
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