WASHINGTON: The US Securities and Exchange Commission (SEC) has moved to drop its action against accountancy Deloitte Touche Tohmatsu for records on a US-listed Chinese company after Chinese authorities turned them over.
In a case that had placed it at odds with its Chinese counterpart, the China Securities Regulatory Commission, the SEC had sought in 2011 to force Deloitte to turn over audit records for Longtop Financial Technologies Ltd, which it was investigating for possible fraud.
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