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According to PANews news on August 15, according to BeInCrypto, the US Securities and Exchange Commission (SEC) announced on August 14 that the agency had accused the British audit firm Crowe UK LLP of having "flaws" in its audit of a music streaming company Akazoo Limited. According to reports, the US SEC is extending its influence outside the United States, and it has no direct jurisdiction or enforcement power in the UK. The latest enforcement action has nothing to do with cryptocurrencies, but the British firm advocates for wider adoption of digital assets, so that may be another motivation.
In addition, the company's CEO Nigel Bostock and senior auditor Matthew Stallabrass have also been charged by the SEC. According to the announcement, Crowe, its CEO and auditors have agreed to settle the misconduct allegations and pay a fine.