Compliance & Regulation

KPMG admits compliance 'misconduct' on GBP1tn in BNY funds

The allegations follow a Financial Reporting Council (FRC) investigation, initiated by a referral from the Financial Conduct Authority (FCA) into compliance work completed by the partnership in 2011.

Both KPMG and London-based financial service audit partner Richard Hinton will be referred to the FRC's disciplinary body. No client is believed to have lost money as a result of the misconduct.

READ THE ARTICLE by citywire