‘PwC has questions to answers’: analyst firm warned years ago about audit failures at Babcock January 17, 2022 Audit giant PwC ignored warnings over irregularities in the accounts of British defence contractor Babcock International for years, even after they were flagged by analysts, according to sources speaking to City AM. In an email to this paper, analyst firm Boatman Capital Research said: “The Boatman and others were warning about accounting issues at Babcock from 2018 [...]
Criminal barristers consider strike over government’s legal aid deal January 17, 2022 Criminal barristers are considering taking strike action, after claiming government plans to inject £35m per year into the criminal justice system would not be enough to “ensure the long-term viability of the Criminal Bar.” Last week, the Criminal Bar Association (CBA) asked its 2,600 members to vote on the prospect of launching a strike, [...]
Record waiting time: Brexit triggers tsunami of trade mark applications as UK firms rush to protect intellectual property January 17, 2022 Brexit has triggered a record number of applications for trade marks in the UK, with 195,000 registered in the past year, up 54 per cent from 127,000 the year before, according to data shared with City A.M. today. Waiting times for trade mark applications reached three to four months in the early part of 2021, [...]
‘Pharma Bro’: Martin Shkreli ordered to repay $64m for illegal price hikes January 15, 2022 A former drugs company chief, who unlawfully hiked the prices of life saving drugs, has been ordered to repay $64m (£47m).
JP Morgan looking to poach Big Four accountants after relaunching recruitment scheme January 14, 2022 JP Morgan has relaunched a scheme to poach newly qualified accountants from Big Four firms, in a sign that demand for junior bankers will remain high throughout 2022. The investment bank last week reoponed its recruitment scheme through which newly qualified accountants working in Big Four accountancy firm can become analysts within JP Morgan’s investment [...]
Former BBC Panorama and Question Time producer who searched for ‘preteen’ sexual abuse online sentenced January 14, 2022 A former BBC producer convicted of possessing indecent images of children has received a 22-month suspended sentence. Victor Melleney, 76, who previously worked on programmes such as Panorama and Question time, also pleaded guilty at an earlier hearing to four counts of possessing a prohibited weapon. He was arrested by National Crime Agency officers at [...]
Trainee lawyer jailed for selling cocaine and ketamine over encrypted Encrochat network and helping to move £1.5m January 14, 2022 A trainee employment lawyer, Neema Seifzadeh, 27, has been jailed for six years, for his role in a £1.5 million plot to sell cocaine and ketamine over the encrypted network Encrochat. Seifzadeh, who worked on a pro bono legal advice hotline, was sentenced to six years imprisonment on Tuesday at Manchester Crown Court, for helping [...]
You too? Record 44m Brits may be in line for compensation as £2.3bn class action lawsuit against Facebook is launched in London court January 14, 2022 More than 44m people could be compensated over “unfair” terms and conditions being imposed on Facebook users if a multi-billion pound lawsuit against the social media giant is successful. Competition law expert Dr Liza Lovdahl Gormsen has launched the class-action lawsuit against Facebook’s parent firm, Meta, at the Competition Appeal Tribunal, accusing the technology giant [...]
Soophia Khan: Outspoken human rights lawyer jailed for contempt of court January 14, 2022 A prominent human rights lawyer has been jailed for contempt of court, after refusing to hand over files to the the body that regulates solicitors. High Court judge Mr Justice Leech sentenced 41-year-old Soophia Khan – often referred to as Sophie Khan in the media – to six months imprisonment, for breaching a High Court [...]
Out-of-court settlement in Malaysia: KPMG coughs up $80m to end global 1MDB scandal January 13, 2022 KPMG has paid $80m to the Malaysian government, in the form of an out-of-court settlement, after Malaysia sued the Big Four firm over the 1MDB scandal, which saw billions stolen from Malaysia’s state-backed 1MDB investment fund. The 1Malaysia Development Berhad (1MDB) scandal saw at least $4.5 bn channelled out of Malaysia’s 1MDB investment fund, by [...]