Supreme Court rules Grant Thornton owes Manchester Building Society £13.4m June 18, 2021 The Supreme Court has backed a £32m negligence claim from Manchester Building Society against its former auditor Grant Thornton in a landmark ruling that could make it easier to bring claims against professional advisers. The Supreme Court said Grant Thornton had incorrectly told the building society that its accounts could be prepared using a rule [...]
The highest prosecutor at the International Criminal Court is now London lawyer Karim Khan June 16, 2021 British lawyer Karim Khan has been sworn in as the new chief prosecutor for the International Criminal Court, pledging to reach out to nations that are not members of the court. Khan, a 51-year-old English lawyer, has years of experience in international courts as a prosecutor, investigator and defence lawyer. He takes over from Fatou [...]
PwC to hire 100,000 new staff in next five years June 15, 2021 PwC plans to go on a hiring spree in the next five years that will see it employ 100,000 more staff as part of a $12bn investment. The new hires will increase the firm’s total headcount by nearly a third to around 384,000. The new staff form part of PwC’s strategy ‘The New Equation’, announced [...]
Whitehall shakeup: 22,000 roles may be moved out of London and external candidates for senior roles June 15, 2021 The government will today launch a reform programme that will see wide-scale reforms to the civil service, with jobs being moved out of Whitehall and senior jobs open to external candidates. The reforms include moving 22,000 civil servant roles outside of London by 2030, including 50 per cent of senior servant roles, and advertising all [...]
US Supreme Court gives LinkedIn fresh chance to stop data harvesters June 14, 2021 The US Supreme Court today granted LinkedIn another chance to prevent a rival recruitment data company from scraping personal data from its platform. LinkedIn previously tried to use the the Computer Fraud and Abuse Act to prevent rival hiQ from harvesting customer data from their public-facing user profiles. The Act prohibits accessing a computer without [...]
Big Four lobbying may dilute Government’s audit reform, says ex-accounting watchdog June 14, 2021 Big Four lobbying will dilute Government's audit reform, says ex-accounting watchdog
Judge orders Danish tax authority to foot £46m legal bills in failed litigation June 9, 2021 The Danish tax authority has been ordered to pay £46m in legal bills by a London court after its attempt to sue a British former hedge-fund investor failed. The Danish taxman put a $1.9bn (£1.5bn) fraud claim through the UK courts against Sanjay Shah and more than 100 other individuals and companies accusing them of [...]
MiCA: A ‘beta version’ of crypto-assets regulation in the EU June 8, 2021 | City Talk Alexander Prognimak, CFA from the CFA UK Future of Money Working Group, looks at European Union plans for crypto-assets. Gone are the days when London’s famous red buses would be carrying adverts promoting the dream of a shiny post-Brexit future for the NHS. As one ad (that has attracted the advertising regulator’s attention) read: ‘If [...]
Rishi Sunak promises to protect the City from Brussels’ financial services bid June 8, 2021 Rishi Sunak, the Chancellor, promised that the City will remain “competitive and dynamic” even in the face of Brussels’ bid to unseat it from its crown, in a private call with banks. Sunak described the financial services industry as a “crown jewel” and, according to reports, said the country will fight to protect it. The [...]
Post-winter split: 21 per cent more applications in March than January dispel divorce myth June 7, 2021 The number of divorce applications filed in March was 21 per cent higher than January, dispelling the belief that January is peak divorce month. From 2003 to 2020, there were 219,778 divorce petitions filed in the month of March, the largest number of petitions filed by month across the period, according to Ministry of Justice data analysed by law firm Boodle [...]