September 20, 2021

wrist slaps

Anyone Holding Their Breath for the SEC to Give Lehman Brothers a Slap on the Wrist Will Be Passing Out Soon

Bloomberg reports that an internal memo states that the crack squad looking at the Commission is wrapping up their investigation and a stern talking to is the probably the worst it'll get for Dick Fuld et al.:  Under a heading reading “Activity in Last Four Weeks,” the undated document reads, “The staff has concluded its […]

Brits Want to Make Wrist Slaps for Big 4 Auditors Slightly More Uncomfortable

Britain's audit regulator, the Financial Reporting Council's accountancy and actuarial discipline board (AADB), has decided that even though its fine of £1.4 million of PwC in January was a record, it really didn't satisfy as a "credible deterrent." Accordingly, the AADB is floating some ideas on how to make the fines a little less "meh" […]