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EY admits the points fundamental the SEC’s costs and agrees to pay for a $one hundred million penalty and undertake intensive remedial steps to repair the business’s ethical difficulties.
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Grewal, Director with the SEC’s Enforcement Division. “And it’s equally shocking that Ernst & Younger hindered our investigation of the misconduct. This action should really function a clear information that the SEC will likely not tolerate integrity failures by impartial auditors who pick the much easier wrong around the harder ideal.”
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And because the Buy finds, EY didn't cooperate within the SEC’s investigation about its materially misleading submission.
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