Law and regulation

Insight / Call to improve People with Significant Control register

The People with Significant Control (PSC) register at Companies House could be a more powerful tool for financial investigations with a few changes to how it collects and organises information, users have said

Insight / Interim manager at religious charity with ‘significant losses’

The Charity Commission has appointed an interim manager to Mountain of Fire and Miracles Ministries International, after the regulator identified ongoing governance issues at the charity

Audit / Audit firms to report to FRC on staff misconduct

From October, the six largest audit firms will be required to provide the Financial Reporting Council (FRC) with regular updates on any instances of bullying and harassment, and details of action taken, in the wake of a series of scandals involving senior staff

Insight / Crackdown on companies rebranding to avoid pension payments

The Pensions Regulator (TPR) has announced a crackdown on employers that try to dodge their workplace pension duties by changing their company name

Insight / US regulators hit Equifax with $700m data breach fine

Equifax is the latest multinational to face record-breaking fines for data protection breaches after the credit rating specialist agreed to pay up to $700m (£563m) in a settlement with the US Federal Trade Commission (FTC)

Insight / Regulatory framework for financial services out for review

The Treasury has announced the first phase of a review into the future regulatory framework for financial services, starting with a three-month consultation looking at how co-ordination between regulatory authorities could be improved only months before potential Brexit departure

Insight / EU starts antitrust inquiry into Amazon use of retailer data

The European Commission has opened a formal antitrust investigation to assess whether Amazon's use of sensitive data from independent retailers who sell on its marketplace is in breach of EU competition rules

Insight / Regulator probes Sheffield educational charity’s finances

The Charity Commission has opened a statutory inquiry into educational charity Avicenna Global due to concerns over potential misconduct and mismanagement at the Sheffield-based charity

Insight / Pension scheme negligence lands insurance boss seven-year ban

An insurance boss who caused his company to be negligent in its responsibilities while administering a pension scheme has been banned for seven years, after concerns were raised about some £13m of members’ funds

Insight / BEIS plans single enforcement body under Good Work Plan

The Department for Business, Energy and Industrial Strategy (BEIS) is consulting on proposals to establish a single enforcement body for employment rights as part of the Good Work Plan

Insight / Insolvency Service consults on single regulator for practitioners

The government has launched a consultation on the current regulatory framework for insolvency practitioners, which includes considering whether to establish a single regulator for the sector

Insight / Government crackdown on economic crime

The government has launched an Economic Crime Plan, a joint initiative with law enforcement, business and professional services firms, to share data and pool resources, in a bid to crack down on fraud, money laundering, bribery and corruption

Insight / UK regulator hits Marriott with £99m data breach fine

The Information Commissioner's Office (ICO) plans to fine hotel chain Marriott International £99m for general data protection regulation (GDPR) infringements, just days after a record-breaking £183m fine for British Airways over a privacy breach

Insight / Regulator scrutinises charities in £10m money laundering scam

The Charity Commission has revealed it is undertaking a class statutory inquiry into London-based charities alleged to be involved in a scheme to launder £10m from the sale of counterfeit erectile dysfunction and slimming pills

Insight / FCA tightens controls on peer-to-peer lending rules

As the Financial Conduct Authority (FCA) releases its latest rule book for loan-based, peer-to-peer platforms, Kam Dhillon, principal associate at Gowling WLG, explains the regulator’s latest attempts to improve investor protection
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