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FCPA Blog Daily News

Entries in PricewaterhouseCoopers (8)

Wednesday
Nov022016

NYT Report: GSK ignored whistleblower who reported China fraud and bribery

A report by David Barboza of the New York Times details how an apparently highly-placed whistleblower in GlaxoSmithKline's China operation sent the head office in London a series of long, well-written memos about illegal sales practices that directors, executives, and auditors chose to ignore.

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Tuesday
Sep292015

Bill and Melinda Gates Foundation sues Petrobras and PwC for millions in graft damages

The Bill and Melinda Gates Foundation Trust filed a lawsuit in New York Thursday against Brazil’s state-owned oil giant and its auditor, alleging the loss of millions of dollars from the ongoing graft scandal.

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Tuesday
Nov182014

Run-amok compliance officers cost Bank of Tokyo Mitsubishi $315 million for sanctions report whitewash

The New York State Department of Financial Services (DFS) Tuesday levied $315 million in penalties against Bank of Tokyo Mitsubishi UFJ (BTMU) for misleading regulators regarding its transactions with Iran, Sudan, Myanmar, and other sanctioned entities.

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Monday
Aug182014

New York regulator suspends PwC consulting unit for two years

New York's Department of Financial Services said Monday that PricewaterhouseCoopers (PwC) Regulatory Advisory Services has been suspended for two years for helping whitewash a sanctions and anti-money laundering compliance report from the Bank of Tokyo Mitsubishi (BTMU).

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Wednesday
Jun042014

China units of Big Four in settlement talks with SEC

The U.S. Securities and Exchange Commission said it is trying to reach a settlement with the Chinese units of the Big Four accounting firms of a long-running dispute over regulators' access to audit documents.

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Wednesday
May072014

Banks stoke hot job market for compliance pros

Some of the biggest U.S. banks are adding risk and compliance professionals as they seek to comply with increasing regulations, particularly in their overseas operations.

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Thursday
Jan232014

SEC judge suspends Chinese units of 'big four' accounting firms

Chinese units of the "big four" accounting firms were suspended from auditing U.S.-listed companies for six months. The judge's ruling Wednesday follows a lengthy dispute over the companies' refusal to furnish their audit papers and documents to the SEC.

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Wednesday
Jan222014

Report details use of secretive offshore companies by China's elite

Family members of China's current and prior political leaders are using secret, offshore companies to help hide their wealth in tax havens, a new report says. And some well-known banks and accounting firms have played a significant role in helping them do it.

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