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Ernst & Young agrees $9.3m settlement with SEC

SEC Building

The Securities and Exchange Commission has announced that public accounting firm Ernst & Young has agreed to pay $9.3m to settle charges that two of the firm’s audit partners got too close to their clients on a personal level and violated rules that ensure firms maintain their objectivity and impartiality during audits.



RBS branch window

RBS bill could hit $27bn

Royal Bank of Scotland may have to pay out as much as $27bn, roughly the market value of the bank, in misconduct fines and lawsuits over the next few years, lawyers and analysts said.