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HK regulator takes Ernst & Young to court for work papers

Tue, 08/28/2012 - 1:25am
Reuters

HONG KONG/SINGAPORE (Reuters) - Hong Kong's securities regulator, in an unprecedented move, took Ernst & Young to court after the audit giant failed to turn over accounting records related to a China-based company.

The auditor now faces the dilemma of whether to comply with the order by the regulator and risk a possible breach of China's state secrecy laws or face regulatory sanctions in Hong Kong.

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