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The Securities and Exchange Commission suspended two former KPMG auditors accused of improper professional conduct during an audit of the now defunct College of New Rochelle.
The case is significant because so many municipal market participants rely on audited financial statements.
The 33-year-old advisor allegedly spent clients’ money on luxury items and business expenses for his startup.
Embattled Chinese coffee chain Luckin Coffee Inc. filed for Chapter 15 bankruptcy in New York, less than a year after the company said that more than a quarter’s worth of business may have been faked.
Wednesday, January 20, 2021 As President Biden continues to assemble his economic team, reports have emerged that President Biden will nominate Gary Gensler as the next Chair of the SEC. The nomination of Mr. Gensler would clearly signal a more assertive SEC when it comes to both regulation and enforcement. And while it is too early to predict exactly what that will look like, one thing is virtually certain — the SEC will likely adopt a more aggressive approach towards private funds and their managers, resulting in a marked increase in the number of enforcement actions. In th...