UK watchdog fines KPMG and partners on auditing of insurer

The Financial Reporting Council (FRC) has fined auditor KPMG and some of its partners for the auditing of motor vehicles insurer Equity Syndicate Management (ESM) Limited.

KPMG has been fined 6 million pounds, its partner Mark Taylor and former partner Anthony Hulse 100,000 pounds each, the FRC said in a statement on Tuesday.

Read more at Reuters.