Via Going Concern: What's Up With Saudi Regulators Pulling Ernst & Young's Securities License?
Well hell, as long as it has nothing to do with that whole epic Lehman Brothers failure.
Ernst & Young is taking it easy. Really easy. When Saudi Arabia regulators pulled their securities license, they barely objected (except for trying to claim it had nothing to do with how they treat their clients… if you have to point it out…), leading reasonable people to wonder what E&Y could have done to deserve such treatment? (Namely, the Journal) Whatever is it, the Capital Market Authority (CMA), the Kingdom’s securities regulator, isn’t too pleased right now.
Like I said, we all know it couldn't possibly be Lehman related so why would Saudi regulators do it? Check out Going Concern for my guesses. (I'm fairly sure that whole half Canadian tux casual Friday shit is pure bull but I've been wrong before)