Senior KPMG restructuring partners set for 25 per cent pay rise to stave-off break up September 15, 2019 Senior partners in KPMG’s restructuring division have received a 25 per cent pay rise as the accountancy giant tries to prevent a potential break-up, it was reported this weekend. The Big Four accountancy firm, which has been involved in high-profile business failures, including the collapse of outsourcer Carillion in January 2018, had been holding talks [...]
Audit bigwigs say lack of timetable for reform of troubled regulator is ‘a concern’ September 11, 2019 The heads of two leading audit bodies have expressed concern about perceived government inaction on the reform of the troubled accountancy regulator. Chief executive of the Institute of Chartered Accountants in England and Wales, Michael Izza, said slow progress on the reform of the Financial Regulatory Council (FRC) “is something of a concern”. Ian Peters, [...]
UK litigation funder Augusta raises $115m from US investment manager September 11, 2019 The UK’s largest litigation funder by case volume Augusta said today it had raised $115m (£93m) from an unnamed US investment manager. Managing director Louis Young said: “This development is a strong endorsement of the litigation funding industry and in particular, our market-leading experienced team”. Litigation funders back individual legal cases or portfolios of cases [...]
What a con: Four common tactics used to scam pension savers September 11, 2019 The impact of pension fraud can be devastating, with victims losing an average of £82,000 last year. Even those of us who are savvy with our money can end up falling victim to fraud. In fact, it is estimated that five million pension savers in the UK are at risk, with 42 per cent of [...]
Burford Capital rebuffs news of possible ‘revenge porn’ law suit September 10, 2019 Litigation funder Burford Capital has hit back after reports it could be facing a private prosecution for an alleged breach of England’s “revenge porn” laws, in the latest development in an ongoing legal battle on both sides of the Atlantic. It was alleged in a High Court lawsuit last month that Burford executive Daniel Hall [...]
Litigation Capital Management bosses say Burford woes will not dampen sector September 10, 2019 The management of litigation funder Litigation Capital Management (LCM) said today that the negativity around fellow funder Burford Capital would not dampen the sector, as they announced their debut London results to the stock market. Last month Aim-listed Burford was savaged in an attack by shortseller Muddy Waters which criticised its governance and its use [...]
Deloitte Legal to recruit trainee lawyers for first time as Big Four continue legal expansion September 10, 2019 Deloitte Legal will offer training contracts to aspiring lawyers for the first time from today, as the Big Four continue their expansion into the legal sector. Deloitte launched a UK legal practice in 2018, becoming the last of the Big Four firms to do so. Today the firm opened applications for up to 10 training [...]
Sage kicks off sale of payments-processing business September 9, 2019 Sage has lined up bankers to find a buyer for its payments-processing arm Sage Pay. Investment bank Rothschild has been appointed to sell the business, which has around 50,000 small and medium sized business customers, Sky News reported. Read more: Sage shares fall as it warns of slipping license software sales It is unclear what [...]
HMRC at risk of not delivering on prosecution targets as Brexit slows tax evasion enforcement September 9, 2019 Lawyers it is “disappointing” that HMRC is on track to miss targets for cracking down on tax evasion and avoidance. The tax authority had set itself a target of increasing the number of criminal investigations that it undertakes into serious and complex tax crime to 100 a year by the end of parliament. However, in [...]
Hell for Leaither: DWF boss on the firm’s post-float fortunes September 8, 2019 DWF is a firm that lawyers at rival firms love to hate. Founded in Liverpool 40 years ago, DWF has expanded at a rapid pace, growing from a regional player to an international firm, swallowing rivals along the way. Over the last decade its revenue grew nearly 350 per cent to £272m, and in March, [...]