The Public Company Accounting Oversight Board (PCAOB) delivered a sharp reprimand to five international audit firms that repeatedly failed to meet basic reporting requirements. Bush & Associates, Barton CPA, Crowe Hussain Chaudhury, KPMG India, and RSM Brasil were not just fined—they were publicly called out for undermining the fundamental transparency that investors rely on.
A significant transformation is taking place in corporate reporting. The International Sustainability Standards Board (ISSB) has introduced new standards that go beyond traditional financial metrics, challenging companies to provide a more comprehensive view of their sustainability impact.
Drexel Hamilton, a well-known broker-dealer, is facing serious penalties from the Financial Industry Regulatory Authority (FINRA) after it was found to have misrepresented retail orders during new issue municipal bond offerings. The firm has been censured, fined $300,000, and ordered to return over $837,000 in profits from its improper practices, which were conducted between 2016 and 2018.
The Council of the European Union has adopted a new regulation today to oversee Environmental, Social and Governance (ESG) rating activities, following a similar move by the UK government earlier this month to bring these influential metrics under regulatory supervision.
The Hague Court of Appeal delivered its judgment last Tuesday in the closely watched appeal between Shell and Friends of the Earth Netherlands (Milieudefensie). While the court reaffirmed that Shell is responsible for reducing its carbon emissions, it concluded that the company should not be bound by a specific reduction rate.
What happens when a company bets big on bribery but loses the house? For BIT Mining Ltd., the answer is a bruising encounter with U.S. regulators. Formerly known as 500.com, the Chinese company has found itself at the heart of a sprawling corruption scandal, accused of paying nearly $2 million in bribes to Japanese officials to win a coveted casino contract. But the deal didn’t pan out, and now BIT Mining is paying the price— both financially and in terms of its reputation.
The European Union has decided to postpone the enforcement of its landmark deforestation regulation by one year. Originally set to take effect on December 31, 2024, this new timeline will allow companies, traders, and third countries additional time—until December 2025 for large operators and until mid-2026 for small businesses—to meet the stringent requirements set by the law. This decision comes after widespread concerns voiced by various stakeholders, including EU member states, international trade partners, and industry groups, who warned that the original deadline was too ambitious for full compliance.