Small businesses to launch £1bn legal action against RBS in early 2017 October 3, 2016 Legal action on behalf of over 100 small businesses claiming RBS drove them into the ground for its own gain is set to launch early next year. RGL Management Limited was formed in March to coordinate action against the bank's now defunct turnaround division, Global Restructuring Group (GRG). It is now fully funded to issue a claim and has [...]
The man who will run accountants BDO for the next four years is revealed October 3, 2016 Paul Eagland was unveiled today as the new managing partner of accountants BDO and he promised to champion the cause of clients and support a new the generation of business advisers. In contrast with larger competitors, BDO has a client base that is skewed towards medium-sized enterprises and Eagland was keen to make sure that their voices were going to be heard by policymakers. Read [...]
Accountancy must adapt to survive in this brave new world October 3, 2016 Charles Darwin would have made a brilliant accountant. It’s not just his forensic brain or curious nature that would have made him successful, but his understanding that it’s not the strongest or most intelligent that survives, but the most adaptable. Look at the world and think back five years. Rapid developments in technology and regulation, the [...]
FCA charges former Blackrock portfolio manager with insider dealing September 29, 2016 A former investment portfolio manager has today been charged with insider dealing by the Financial Conduct Authority (FCA). Mark Lyttleton, aged 45 who used to work for Blackrock Investment Management (UK), has been charged with three counts of insider dealing. The FCA claims the alleged activities took place between October and December 2011 and relate to trading in equities [...]
Shares in outsourcer Capita have plunged after it issued a profit warning September 29, 2016 Ooof. Shares in FTSE 100-listed outsourcer Capita have fallen almost 30 per cent this morning after it issued a punchy profit warning. Shares were down 28.7 per cent at 679.3p in early trading, after the company said it expected full-year underlying profits to fall between £535m and £555m, as opposed to the £614m it had previously forecast. [...]
Attorney General among government’s legal eagles for Article 50 court case September 28, 2016 Attorney General Jeremy Wright QC has today been confirmed as among the lawyers speaking for the government in the upcoming Article 50 case. Other members of counsel defending the case at the High Court in October are James Eadie QC, Jason Coppel QC, Tom Cross and Christopher Knight. The case, which has been brought against the government [...]
Company secretaries say the Pensions Regulator should have more power to block takeovers to protect retirement funds September 28, 2016 Almost two-thirds of company secretaries believe the Pensions Regulator should be given stronger powers to block takeovers in order to safeguard pensions. According to a poll released today by the Institute of Chartered Secretaries and Administrators (ICSA) and The Core Partnership, 64 per cent of company secretaries were in favour of boosting the Pensions Regulator’s [...]
Foreign exchange fraudster slapped with 20 more months in prison for failing to cough up September 27, 2016 A London foreign-exchange fraudster has had his prison sentence extended after failing to pay a court-ordered penalty. Alex Hope – dubbed King Popper for his champagne lifestyle – was jailed in January last year for seven years for duping investors out of £5.6m. His jail term was extended by nearly 20 months today after he failing to pay a court-ordered penalty. Hope [...]
You’ll be hearing from my lawyer: Blue chip companies placing more and more money to one side to fight costly litigation, with FTSE 100 legal provisions up by a fifth September 26, 2016 Firms in the FTSE 100 put aside £31.3bn between them last year in a bid to cover potential legal bills stemming from increasingly costly litigation, a study out today has found. Legal provisions, which refer to money set aside to cover expenses such as legal costs, fines and compensation, among those in the blue chip index have [...]
Taxman increases number of raids on premises by over a quarter September 26, 2016 More and more businesses could be expecting a rather abrupt visit from the taxman, as figures out today has found the number of raids carried out by HM Revenue & Customs (HMRC) has shot up over the last year. The research found that HMRC searched 761 properties as part of its criminal investigations over the course of the [...]