An Indiana-based contract research organization for pharmaceutical testing is being investigated by the Securities and Exchange Commission (SEC) for potential violations of the Foreign Corrupt Practices Act (FCPA). The...more
The United States (U.S.) Securities and Exchange Commission (SEC) has passed new rules imposing new requirements and obligations on the private fund industry. Whilst the rules are significantly less onerous than originally...more
The GP-led secondaries market is relatively new to Australia but recent transactions show the trend is here to stay. Continuation Funds avoid the need for forced exits from Funds and help provide liquidity. Yet since the GP...more
Financial services regulators globally are identifying sustainability and Environmental, Social and Governance (ESG) issues as key areas of concern, with the aim of encouraging greater investment in longer term and...more
The Hong Kong Court of Appeal has denied an accountant’s appeal of a Disciplinary Committee of the Hong Kong Institute of Certified Public Accountants (HKICPA) order that cancelled her practicing certificate due to...more
In mid-2020 the German stock corporation Wirecard became suspected of having falsified its records and to have made up assets in the magnitude of EUR 1.9 billion in its balance sheets. This prompted the German legislature to...more
Our global team of securities and professional liability lawyers at Hogan Lovells is uniquely positioned to monitor legal developments across the globe that impact accountants’ liability risk. We have experienced lawyers on...more
12/22/2021
/ Accountants ,
Accounting ,
Accounting Standards ,
Auditor Independence ,
Financial Reporting ,
Financial Services Industry ,
Foreign Corporations ,
Hong Kong ,
Netherlands ,
PCAOB ,
Securities and Exchange Commission (SEC)
A company that specialized in the design and production of optical instruments (hereafter: the Company) hired an accounting firm and a tax consultancy firm (hereinafter: the Accountants) to prepare its annual accounts between...more
10/26/2021
/ Accountant Malpractice ,
Accountants ,
Accounting ,
Accounting Standards ,
Audits ,
Financial Institutions ,
Financial Services Industry ,
Hong Kong ,
Italy ,
Netherlands ,
Professional Liability ,
Securities and Exchange Commission (SEC) ,
Spain
On 1 July 2021 a new bill came into force in Germany that substantially reshapes the legal framework for accountants (“Gesetz zur Stärkung der Finanzmarktintegrität – (Finanzmarktintegritätsstärkungsgesetz -FISG)”, “FISG”,...more
Court of Appeal rules in favor of accounting firm in breach of contract claim -
The Court of Appeal has rejected a claim from a California-based businessman that a global accounting firm failed to ensure that its...more
Recent regulatory and enforcement developments -
Hong Kong -
Court rules on disclosure of disciplinary decisions-
Accountants and other professionals should not expect that disciplinary decisions against them will remain...more
3/30/2021
/ Accountant Malpractice ,
Accountants ,
Accounting ,
Accounting Standards ,
Capital Markets ,
Disciplinary Proceedings ,
Enforcement Actions ,
Fraud ,
Hong Kong ,
Italy ,
Memorandum of Understanding ,
Netherlands ,
Regulation S-K ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
Recent court decisions -
Germany -
Cum/Ex-trades spark litigation -
So called Cum/Ex-trades have become one of the hottest legal topics in Germany. A flood of claims dealing with those trades has reached German...more
6/1/2020
/ Accounting ,
Accounting Standards ,
Auditors ,
Audits ,
Business Disruption ,
Coronavirus/COVID-19 ,
EU ,
Financial Statements ,
Hong Kong ,
PCAOB ,
Publicly-Traded Companies ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Spain