U.S. regulators have reached a deal with the China-based units of the "Big Four" accounting firms after a lengthy dispute over their 2012 refusal to turn over documents connected to Chinese companies under investigation.
The settlement involves the China units of Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers.
Each company is going to pay a 500-thousand US dollar fine.
The Securities and Exchange Commission sued the firms in 2012 amid a dispute over the release of documents the firms argued would break Chinese secrecy laws.
For more on the settlement, we are now joined live by Mike Bastin, Director of The China Business Centre based in London.
