UK Accounting Watchdog Asks Big Four to Ring-Fence Audit Practices July 6, 2020 By Aoife White The UK dominant accounting firms must separate their audit units from other businesses by June 2024 as the country’s accounting...
From Enron to Wirecard – Big 4 Accounting Firms Still Face Systemic Problems July 2, 2020 By Ellen Milligan and Hugo Miller Two decades of financial disasters from Enron Inc.’s collapse in 2001 to Wirecard AG’s meltdown have left the Big Four...
Allianz Ends Relationship with Wirecard Amid Accounting Scandal July 1, 2020 Allianz said on Wednesday that it was ending its relationship with Wirecard Bank and removing from the market a mobile...
Former CEO of Wirecard Arrested in Accounting Scandal Involving Missing $2.1 Billion June 23, 2020 FRANKFURT – Wirecard’s former boss was arrested on Tuesday on suspicion of falsifying accounts, after the German payments firm disclosed...
Investors’ Suit Alleges Firm Inflated Stock with Misleading Claims About Its Covid Test June 17, 2020 By Andrew G. Simpson An investor lawsuit against a Utah company alleges its principals falsely claimed its coronavirus diagnostic test was “100% accurate” and...
BHSI Expands Cover for UK Financial Institutions with D&O and Civil Liability Policies April 14, 2020 Berkshire Hathaway Specialty Insurance (BHSI) has introduced two new policies tailored specifically for UK financial institutions: Professional First Financial Institutions...
Swedbank Slapped with Record $386M Fine for Money-Laundering Breaches March 20, 2020 By Colm Fulton, Johan Ahlander and Simon Johnson Sweden’s financial watchdog hit lender Swedbank with a record fine of 4 billion crowns ($386 million) on Thursday for serious...
D&O Insurers Urged to Adjust Rates, Underwriting for Risky Environment March 4, 2020 Directors and officers liability insurance has gotten trickier and will confront major new challenges over the next few years. Continued...
Danske Bank Ex-CEO Faces $387M Lawsuit over Money Laundering Scandal February 24, 2020 By Christian Wienberg The ousted chief executive of Danske Bank A/S, Thomas Borgen, has been personally targeted in an investor lawsuit arguing he...
Directors and Officers Face Significantly Higher Range of Risks: Allianz Report December 4, 2019 The range of risks facing company executives, or directors and officers (D&Os), has increased significantly in recent years along with...