The United States Securities and Exchange Commission (SEC) has settled with FTX Derivatives Exchange’s auditor Prager Metis. This startup served as the in-house auditor for FTX prior to its collapse. It faced probe from the regulator for its negligence in auditing the firm’s books to possibly flag its inconsistencies.
US SEC Bags Fresh Closure In FTX Case
Many experts in the crypto ecosystem blamed the US SEC’s poor oversight for the FTX collapse. Following the criticisms, the agency went on to seek closure from everyone or any entity that might have been involved in the firm’s blowup.
With the recent settlement, Prager Metis will now pay $1.95 million to resolve two actions alleging misconduct in its audits of the now-defunct crypto asset trading platform, and auditor independence violations. This settlement comes on the heels of the $750,000 fine levied on Flyfish Club NFT for violating securities laws.
This is a breaking story, please check back for updates!!!
The post Breaking: FTX Auditor Settles With US SEC For Negligence appeared first on CoinGape.
