SEC files subpoena enforcement action against Deloitte
Deloitte Touche Tohmatsu faces subpoena enforcement action after failing to hand documents over to SEC in Longtop Financial Technologies investigation
The US Securities and Exchange Commission (SEC) has filed a subpoena enforcement action against Shanghai-based public accounting firm Deloitte Touche Tohmatsu (D&T Shanghai) for failing to produce documents that would aid the SEC's fraud investigation of the firm's long-time client Longtop Financial Technologies.
Longtop is a foreign private issuer with a market capitalisation of $1.08 billion that traded American depository shares (ADSs) on the NYSE from October 2007 to May 17 this year, when
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