SEC Targets Deloitte's China Unit For Withholding Docs

Law360, New York (May 9, 2012, 5:35 PM EDT) -- The U.S. Securities and Exchange Commission is taking action against Shanghai-based Deloitte Touche Tohmatsu CPA Ltd. for denying the agency documents on an audit of a Chinese company under investigation for possibly defrauding U.S. investors, the SEC announced Wednesday.

The commission has been trying for two years to obtain the papers related to Deloitte Shanghai's auditing of the unnamed company, which issues U.S. securities registered with the SEC, but the auditing firm has refused to cooperate because it says the requests conflict with Chinese law, according...
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