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01/29/2013 01:05:42 PM EST

UK Watchdog Clears E&Y Over Lehman Client Funds Audit

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Law360: Bankruptcy

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. Read More...