UK Watchdog Clears E&Y Over Lehman Client Funds Audit

By Daniel Wilson (January 29, 2013, 6:05 PM EST) -- The U.K.'s Financial Reporting Council on Tuesday said it wouldn't seek sanctions against Ernst & Young LLP for its auditing of customer fund segregation at Lehman Brothers Holdings Inc.'s European arm, despite an administrator finding discrepancies in Lehman's accounts following the investment firm's 2008 collapse....

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