FRC slaps KPMG with £13m fine over Silentnight sale

A former partner has also been fined £500,000 and severely reprimanded for his role in the sale

Holly Roach
clock • 3 min read
KPMG and a former partner have been fined and 'severely reprimanded'

KPMG and a former partner have been fined and 'severely reprimanded'

The Financial Reporting Council (FRC) has sanctioned KPMG and former partner David Costley-Wood for their roles in the sale of bed manufacturer Silentnight.

Both KPMG and Costley-Wood have been "severely reprimanded"; KPMG has been fined £13m while Costley-Wood has been fined £500,000. Costley-Wood has also been excluded from membership of the Institute...

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