Daily Archives: April 1, 2009, 11:59 pm

SEC’s Khuzami Outlines Goals, Need for Sense of Urgency

Robert Khuzami, the new Director of the SEC’s Enforcement Division who began working at the agency on March 30, spoke to the staff on his first day to outline four major themes he’d like them to pursue: being “strategic, swift, smart and successful.”  In an interview with Dow Jones Newswires, Khuzami emphasized that he believes “there needs to be a…

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New Century Debtors File Billion Dollar Lawsuit Against KPMG

A liquidating trust formed by New Century Financial Corp. debtors filed a billion-dollar lawsuit today against KPMG International and its U.S. arm, KPMG LLP. The lawsuit alleges that KPMG performed “grossly negligent audits” that helped trigger the collapse of New Century by covering up “catastrophic” accounting and other problems at New Century, Reuters reports. “As New Century’s auditor, KPMG failed…

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