Clyde & Co faces fine after admitting to anti-money laundering failures January 9, 2024 London law firm Clyde & Co looks set to pay a hefty fine after it admitted today that it failed to comply with anti-money laundering regulations.
Mishcon de Reya enters alternative legal services market with acquisition January 9, 2024 The firm has acquired flexible legal resourcing business Flex Legal, which was launched in 2016 in order to connect talent with the UK’s best legal teams.
Financial Reporting Council fines against auditors nearly doubled in two years January 8, 2024 The Financial Reporting Council (FRC) levied record-level fines against auditors after it promised to become more "forceful”.
English lawyers in Europe still face huge challenges after Brexit, legal chief warns January 8, 2024 English lawyers working in Europe continue to face a host of issues following the UK’s exit from the European Union, the president of Law Society of England and Wales has said, warning it could impact the appeal of working with English Law.
Booming demand for London’s legal market drives record number of City partner moves in 2023 January 8, 2024 Law firms’ partner CVs were flying around the City in 2023, as the year saw the highest number of job moves ever recorded. According to data provided by legal recruiter, Edwards Gibson, there were 510 partner moves recorded over 2023. This figure is up six per cent on the 480 partner moves recorded over 2022, and [...]
First person: How I built a legal firm out of the team defending the ‘Tuna Bonds’ dealmakers January 8, 2024 The Credit Suisse 'Tuna Bonds' scandal combined fisheries, kickbacks and global legal battles. Rupert Butler - the City lawyer who represented the defendants - tells City A.M. how the drama unfolded
Grant Thornton axed from top flight of audit supervision after removing high-profile clients January 7, 2024 Accountancy firm Grant Thornton has been cut from the industry watchdog’s top tier of audit supervision after removing a number of high-profile clients.
Accountancy watchdog called on to raise threshold for enforcement action January 4, 2024 An accountancy chief has called on the Financial Reporting Council (FRC) to raise the threshold for enforcement action against auditors. Speaking to the Financial Times, Michael Izza, chief executive of the Institute of Chartered Accountants England and Wales said: “Prior to 2017, if the FRC brought a case against an auditor, the threshold test that [...]
FRC opens probe into a member over the bankrupted Thurrock Council January 3, 2024 The Financial Reporting Council (FRC) has launched an investigation into the conduct of "a member" in relation to the bankrupted Thurrock Council's accounts.
Simmons & Simmons awarded £3m Bank of England legal contract January 3, 2024 The law firm won the BoE's flexible legal resourcing contract late last month, with a value up to £3m running for two years until 19 December 2025.