British insurer drops “energetic” and “enthusiastic” from job ads to attract older employees January 19, 2022 One of Britain’s biggest insurers is set to stop using the words “enthusiastic” and “energetic” in job adverts, so as not to deter old people from making applications. Phoenix Group, which owns insurance company Standard Life, will also use “age-diverse” imagery in its postings to increase “the likelihood of older applicants applying.” The plans come [...]
Climate-conscious insurers scrap coal exit policy to stay on right side of antitrust rules January 19, 2022 A coalition of climate-conscious insurance companies have reportedly scrapped plans to stop insuring coal miners, to ensure they are not violating antitrust laws. The Net Zero Insurance Alliance, whose founding members include Axa, Allianz, and Aviva, dropped plans for a coal exit, after receiving advice from lawyers that the plans to join forces to prevent [...]
Ex-Deloitte manager claims Deloitte defrauded VW and ignored #MeToo allegations January 19, 2022 A former manager at Deloitte has accused the firm of defrauding Volkswagen and failing to investigate allegations of sexual harassment in its Stuttgart office. The former manager, who is currently suing Deloitte for unfair dismissal, told a Stuttgart labour court that Deloitte overcharged Volkswagen, after billing the car manufacturer for more hours than it had [...]
Former KPMG partner fined £150,000 for misleading regulator January 19, 2022 Britain’s accounting watchdog has fined former KPMG partner Stuart Smith £150,000, after he admitted misleading the regulator during a spot inspection. Smith and KPMG admitted misleading the UK’s Financial Reporting Council (FRC) during its inspection of an audit of data management firm Regenersis’ financial statements. Smith will also be banned from the Institute of Chartered [...]
Lloyd’s of London weighs up leaving iconic headquarters January 19, 2022 Lloyd’s of London is considering leaving its iconic headquarters as it seeks out ways to adapt to shifts in working habits brought about by digitalisation of its business and Covid-19. In an email to City AM, a Lloyd’s of London spokesperson said: “As we adapt to new structures and flexible ways of working, we are [...]
Ex-KPMG partner blames junior colleagues for fabricated documents January 18, 2022 A former partner at KPMG, who led the audit of Carillion, has blamed junior colleagues for fabricating documents given to the Financial Reporting Council (FRC), during an industry tribunal into claims that papers were forged to deceive the industry regulator. Former KPMG partner, Peter Meehan, who left the KPMG on “agreement” in January 2021 after [...]
Government doubles Magistrates’ sentencing powers to cut Crown Court backlog January 18, 2022 Magistrates will be given new powers to jail people for up to a year, therefore doubling magistrates sentencing powers, in a bid to reduce the backlog faced by Crown Courts. Under current rules, magistrates have the power to hand down six-month jail sentences, meaning any cases that warrant a longer sentence must be passed [...]
The University of Law offers jobless grads a refund January 18, 2022 Britain’s biggest law school has said it will give graduates their money back if they fail to get a job. The University of Law said it will give its former students a 50 per cent cash refund and 50 per cent credit towards the fees of another course, if they do not get a job [...]
Criminal barristers threaten nationwide strike if government fails to up their pay January 18, 2022 Criminal barristers have said they will go on strike if the government does not substantially increase their pay. In a survey put out by the Criminal Bar Association (CBA), 96.5 per cent of criminal barristers said they favour taking strike action if the Government does not agree “to a substantial increase in criminal legal [...]
EU regulators dish out record €1.1bn in fines for GDPR breaches in 2021 January 18, 2022 The total value of fines dished out by EU authorities for breaches of GDPR has risen to record highs of almost €1.1bn (£0.9bn), after jumping sevenfold between 2020 and 2021. EU authorities dished out a record €1.087bn worth of fines last year – a sevenfold increase on the € 158.5m worth of fines handed out [...]