🚨 SEC accuses Prager Metis, former auditor of bankrupt crypto exchange FTX, of violating U.S. auditor independence rules! The regulator seeks an injunction, fines, and disgorgement of profits from the firm.

Key points:

- Prager Metis audited FTX's international arm, reporting $1bn in revenues in 2021.

- SEC's complaint focuses on agreements made with numerous clients, not specifically FTX.

- Firm allegedly entered into indemnification provisions, releasing them from liabilities due to "knowing misrepresentations by management."

- Violations reportedly date back to at least January 2019.

What are your thoughts on the SEC's allegations against Prager Metis? Share in the comments below! 👇