KPMG Plans Review Amid Trading Case

KPMG LLP said it plans to reassess its internal safeguards, the latest fallout from an insider-trading case that has led to the firing of a senior partner and the accounting firm’s resignation as the auditor for two companies.

The company has also reached out to many clients in recent days to reassure them in the wake of the allegations against ex-partner Scott London, KPMG and clients say. Mr. London allegedly gave a friend confidential information that led to $1.2 million in illicit trading profits in exchange for at least $50,000 in cash and gifts. The case is among the most prominent violations of client confidentiality by an employee of a major accounting firm in years….more

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