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 [...]
Miriam Gonzalez Durantez takes up new job at UBS September 25, 2016 Some of UBS' London staff might be feeling one of the bank's new joiners has a very familiar face. Miriam Gonzalez Durantez, a highly-regarded lawyer and wife of former deputy prime minister Nick Clegg, is joining the Swiss bank giant's London unit as a non-executive director. Gonzalez Durantez, who is a partner at City law firm Dechert, will [...]
Consumer interest group calls on watchdogs to tackle bank transfer scams September 23, 2016 A consumer interest group has today turned up the pressure on financial watchdogs by launching a super complaint into bank transfer scams. Research from Which? has found three out of five (60 per cent) of people don't realise there is no consumer protection from their bank if they are fraudulently tricked into making a bank transfer. Meanwhile, [...]