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Violation Tracker Individual Record

Company: Ernst & Young LLP
Current Parent Company: Ernst & Young
Penalty: $100,000,000
Year: 2022
Date: June 28, 2022
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The Securities and Exchange Commission charged Ernst & Young LLP (EY) for cheating by its audit professionals on ethics exams required to obtain and maintain Certified Public Accountant (CPA) licenses, and for withholding evidence of this misconduct from the SEC's Enforcement Division during the Division's investigation of the matter. EY admitted the facts underlying the SEC's charges and agreed to pay a $100 million penalty and undertake extensive remedial measures to fix the firm's ethical issues.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: United Kingdom
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: business services
Specific Industry of Current Parent: accounting services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.