Big Four auditors EY, KPMG, Deloitte and PwC face SEC probe over conflicts-of-interest March 16, 2022 The US watchdog tasked with regulating financial markets has launched an investigation into potential conflicts of interest in the Big Four accountancy companies. The US Securities and Exchange Commission (SEC) has set up a probe into whether the Big Four’s businesses selling consulting and non-audit services undermine their ability to provide objective and independent audits, [...]
Lloyds of London hands out biggest fine ever following years’ long bullying campaign March 16, 2022 City of London insurance market Lloyds of London today issued its largest fine ever against syndicate member Atrium, after the underwriting firm failed to “adequately protect” a junior employee once it became aware of a “systematic campaign of bullying”. In a notice, Lloyds of London said it had fined Atrium Underwriting a record £1.05m for [...]
Raab says barristers’ strike would be ‘totally unwarranted’ following legal aid reforms March 16, 2022 Justice secretary Dominic Raab has said it would be “totally unwarranted” for barristers to go forwards with strike action, after the Ministry of Justice said it would invest an extra £135m a year into criminal legal aid. The comments come after the Criminal Bar Association (CBA) said 94.34 per cent of criminal barristers had voted [...]
German law firm launches class action lawsuit against EY over Wirecard scandal March 16, 2022 A German law firm has opened a class action lawsuit against Big Four accountancy firm EY over the auditor’s role in the multi-billion-euro Wirecard scandal. German law firm TILP said it had filed a lawsuit in a Munich court on behalf of Wirecard shareholders, over claims that EY breached its duty to investors by “aiding [...]
Exclusive: Most in-house lawyers are now working from the office March 15, 2022 The UK’s in-house lawyers are leading the return to the office, with almost half of Britain’s in-house lawyers now working from the office full time, according to the results of a poll shared exclusively with City A.M.. The majority of Britain’s in-house lawyers have now spend at least part of their time working in the [...]
London lawyer forged letter and ‘tipped off’ client during Serious Fraud Office probe March 15, 2022 A senior partner at London law firm Osmond & Osmond has been charged with forging a legal letter and tipping off a client over plans by the Serious Fraud Office (SFO) to launch an investigation under the proceeds of crime act. Sixty-seven-year-old solicitor William Osmond – who founded London law firm Osmond & Osmond in [...]
London’s largest law firm DLA Piper closes Russian offices March 15, 2022 The City of London’s biggest law firm by revenue, DLA Piper, is set to close its Moscow and St Petersburg offices, as law firms from across the globe continue to pile out of Russia. In a statement, DLA Piper said it will transfer its Russian business to the UK, in line with the “legal and [...]
Russian judge rolls back Peppa Pig copyright in retaliation against Western sanctions March 15, 2022 Peppa Pig has been dragged into the conflict between Russia and the West, after a Russian judge said Russians are free to use the children’s cartoon character in retaliation against Western sanctions. A judge in the Russian city of Kirov said Russian businesses are free to copy Peppa Pig and create their own versions of [...]
Raab vows to boost legal aid with extra investment of £135m a year March 15, 2022 The UK government has agreed to invest an extra £135m a year into criminal legal aid, in line with recommendations made by the Bellamy report, which said £135m is the minimum investment needed to ensure the UK’s criminal legal aid system continues to function effectively. In a statement, the Ministry of Justice (MoJ) said it [...]
One step closer to US extradition: Supreme Court denies WikiLeaks’ Julian Assange appeal March 14, 2022 Wikileaks founder Julian Assange has been denied permission to appeal against the High Court’s decision to extradite him to the United States at the Supreme Court.