Watchdog Halts Action Against Ex-Software Co. Finance VP

Law360, London (May 7, 2019, 1:23 PM BST) -- Britain's accounting watchdog said Tuesday that it has put proceedings against the former vice president of a scandal-hit software company on hold as it awaits the outcome of criminal charges against him in California, including 15 counts of fraud.

The Financial Reporting Council has stayed its formal complaint against Stephen Chamberlain, who was a vice president at Autonomy Corp. The watchdog is alleging that Chamberlain — along with Autonomy’s former chief financial officer and Deloitte LLP — failed to disclose information about the company’s financial health before its $11 billion acquisition by Hewlett-Packard Co.

The audit regulator said that, on April 4,...

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