FCA: FCA fines PwC £15mn for failing to disclose suspected fraud at LCF

21 Aug 2024 11:03 AM | Anonymous member (Administrator)

The Financial Conduct Authority has fined PwC £15mn for failing to report to the regulator its belief that London Capital & Finance might have been involved in fraudulent activity.

This is the first time the regulator has fined an audit firm and comes after PwC encountered “significant” issues throughout their 2016 audit of LCF.

https://www.ftadviser.com/regulation/2024/08/16/fca-fines-pwc-15mn-for-failing-to-disclose-suspected-fraud-at-lcf/


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