SEC completes investigation into Toshiba’s past accounting practices, no fines levied

This brings a closure to Toshiba’s 2015 accounting scandal.

On Monday, is what is likely to be a huge sign of relief for Japan’s Toshiba Corp, the conglomerate disclosed that the U.S Securities and Exchange Commission (SEC) had completed its investigation of its past accounting practices without levying any penalty on the company.

“We understand that all SEC investigations regarding our accounting have been completed,” and that no penalty had been levied vis-a-vis its past accounting practices, said Toshiba’s spokesman.

The development brings closure to the company’s 2015 accounting scandal which supposedly uncovered billions of dollars in liabilities at its subsidiaries and forced Toshiba to sell its prized NAND memory chip business.

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