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PwC to pay $7.9 million to settle SEC charges over independence, conduct

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By Reuters
PwC to pay $7.9 million to settle SEC charges over independence, conduct
FILE PHOTO: The logo of accounting firm PricewaterhouseCoopers (PwC) is seen on a board at the St. Petersburg International Economic Forum (SPIEF), Russia, June 6, 2019. REUTERS/Maxim Shemetov   -   Copyright  MAXIM SHEMETOV(Reuters)

(Reuters) – PricewaterhouseCoopers LLP agreed to pay more than $7.9 million (6.4 million pounds) to settle U.S. Securities and Exchange Commission charges it violated auditor independence rules and engaged in improper professional conduct, the regulator said on Monday.

The SEC said PwC’s payout includes a $3.5 million civil fine, plus more than $4.4 million of disgorgement and interest. PwC did not admit or deny wrongdoing.

(Reporting by Jonathan Stempel in New York; Editing by Chizu Nomiyama)