Ernst & Young will pay $100 million to settle SEC charges that its auditors cheated on CPA ethics exams and that it misled the agency's investigators.
Aside from paying the penalty, EY agreed to "undertake extensive remedial measures" to address ethics concerns.
Gary Gensler, Chair of the U.S. Securities and Exchange Commission, testifies before a Senate Banking, Housing, and Urban Affairs Committee oversight hearing on the SEC on September 14, 2021, in Washington, DC.
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