SEC initiates authorized motion towards FTX's auditor

The US Securities and Alternate Fee (SEC) has commenced authorized proceedings towards an accounting agency that had offered companies to cryptocurrency alternate FTX previous to its chapter declaration.

In accordance with a September 29 assertion, the SEC alleged that Prager Metis offered auditing companies to its shoppers with out sustaining the required independence, because it continued to supply accounting companies. This apply is prohibited beneath the auditor independence framework.

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