The SEC has sanctioned Ernst and Young $2.9 million for being “engaged in improper professional conduct” and in violation of several rules and acts, specifically the Exchange Act § 4C and Rule 102(e) of the Commission’s Rules of Practice. Rule 102(e) and Exchange Act Section 4C. E&Y shall pay the SEC $2.9 million, composed of disgorgement of $2.4 million and prejudgment interest of $0.5 million...
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