Katanga Mining Limited applied for an order under section 17 of the Securities Act authorizing the disclosure of a confidential summons to individuals at four audit firms to assist with a review of past accounting practices.
The Commission granted the request with respect to Katanga's current auditor, finding minimal risk to the ongoing investigation.
However, the Commission denied the request to disclose the summons to the other three audit firms, finding that the potential risk to the investigation outweighed the purported need for disclosure, and instead authorized the disclosure of a letter from Staff confirming the investigation.
The Commission also ordered that its decision remain confidential for a limited period to protect the integrity of the investigation, subject to future publication.
