Action against Respondents, an audit firm, its CEO, and its Reputation and Risk Leader, for alleged violations of auditor independence requirements.  According to the SEC, Respondents audited a firm with a banking subsidiary at which the individual Respondents and other audit partners and team members maintained account balances that exceeded amounts insured by the Deposit Insurance Corporation of Japan, which was in violation of Regulation S-X.  Respondent firm has agreed to pay disgorgement of $971,722, prejudgment interest of $159,397.70, and a civil penalty of $880,000. Respondent managers have agreed to a bar against appearing or practicing before the SEC as accountants.

SEC Order