UK audit watchdog proposes record $16 million fine for KPMG
Britain’s accounting watchdog has proposed fining KPMG 12.5 million pounds ($16 million) for errors in checking whether BNY Mellon bank was complying with rules for safeguarding client assets.
Shared by KYC360
May 22, 2019
The Financial Reporting Council (FRC) said it has asked an independent disciplinary tribunal on Tuesday to levy the fine, a record for the watchdog if confirmed.
Read more at KYC360.