PwC fined £15m for failing to report suspected fraud at City firm

Fine is FCA’s first against an auditor and follows PwC being hit with £4.9m penalty over audit by another regulatorThe UK financial services watchdog has fined PwC a record £15m after audit staff failed to tell regulators they suspected fraud at a City firm that collapsed in 2019, leaving more than 11,000 investors almost £240m out of pocket.It marks the first Financial Conduct Authority (FCA) fine against an auditor, and comes three months after PwC was hit with a £