Major shakeup is needed to fix the Big Four, expert says March 18, 2022 A prominent academic has called on the government to expedite its audit reforms, after arguing a serious shakeup is needed to prevent an “appalling” situation from getting worse. Speaking to City A.M. accountancy expert Professor Atul Shah said, “the record of the UK’s auditing industry has been appalling over the last two decades and it’s [...]
Moscow’s ‘Uncle Vanya’s’ fast-food chain unveils new logo following McDonalds exit from Russia March 18, 2022 A Russian fast-food chain is readying itself to become Russia’s own version of McDonalds after unveiling a new logo that bears a number similarities to the hamburger restaurant’s Golden Arches crest. The Moscow headquartered firm filed an application to patent its red and gold symbol, after a Russian politician said the country should start its [...]
McKinsey pulls staff out of Russia and sends them to Kazakhstan March 17, 2022 Consultancy giants McKinsey and BCG are pulling their staff out of Russia and sending them to the former Soviet republics of Kazakhstan and Azerbaijan. Big Three consulting firm McKinsey has already sent its Russian employees to Almaty, the largest city in Kazakhstan, according sources speaking to Financial News. Meanwhile, Boston Consulting Group (BCG) is [...]
‘Panicked’ solicitor struck off after she hid complaint and sent false email March 17, 2022 A “panicked” solicitor has been struck off the register and told to pay £11,400 after she hid a complaint from her company’s compliance officer and then emailed the client pretending to be her firm’s compliance officer. Elizabeth Nedin, a solicitor at Welsh law firm Philip Avery & Co, intercepted emails complaining about her conduct, and [...]
Explainer: What is the Economic Crime Act and how will it help the government tackle oligarchs? March 17, 2022 The government’s Economic Crime Bill, which gives the UK new powers to tackle oligarchs, has gained Royal Assent after being fast tracked through parliament. In a statement, the government said the new laws will make it easier for the government to “tackle corrupt elites” and crack down on “Putin’s cronies.” Notably, the law will require [...]
Dechert lawyers held ‘mock trial’ to help witnesses construct false cover story, court hears March 17, 2022 Lawyers in Dechert’s London office have been accused of holding meetings to come up with a “cover story” for how the firm obtained a cache of hacked emails that were used to win a lawsuit against Iranian airline tycoon Farhad Azima. A High Court heard that Neil Gerrard, Dechert’s former head of financial crime, put [...]
Roman Abramovich used ‘barrage’ of legal threats to silence journalist, MPs hear March 17, 2022 A prominent British journalist has said she received legal threats from Roman Abramovich after she published a book laying out the oligarch’s links to Vladimir Putin. Reuters journalist Catherine Belton told MPs she received a “barrage” of legal threats from Russian oligarchs, including sanctioned billionaire Roman Abramovich and Everton backer Alisher Usmanov, after she published [...]
UK government vows to crack down on use of ‘lawfare’ to silence ‘valid criticism’ March 17, 2022 The UK government is preparing to crack down on those using legal threats to intimidate journalists and silence the British press. Justice Secretary Dominic Raab will today set out plans to stop wealthy individuals and large businesses from “using the threat of endless legal action” to “stifle legitimate criticism”, the government said in a statement. [...]
Supreme Court ruling could lead to boom in flight refund solicitors, legal expert says March 16, 2022 The UK’s Supreme Court today said solicitors claiming refunds for delayed and cancelled flights have a right to claim any legal costs from clients. Legal experts speaking to City A.M. said the Supreme Court ruling, which allows law firms to cover their legal costs using refunded money, is likely to embolden solicitors and lead to [...]
Latham & Watkins brings in mental health counsellors to deal with employee burnout March 16, 2022 Los Angeles law firm Latham & Watkins has hired two mental health counsellors to work in its UK offices, amid mounting concerns around burnout in the legal sector. The California firm, which is one of the most profitable law firms in the world, has brought in two full time counsellors, with a view to offering [...]