Law and regulation

Insight / KPMG to launch legal services offering in UK

KPMG International has reported record growth for its global legal services offering, and indicated it plans to extend its services this year, including in the UK where it will launch a legal consultancy arm

Insight / Insolvency: investors left hanging in event of business failure

Investors in the company that owns Patisserie Valerie are looking at launching legal action over the collapse of the cafe chain, highlighting the dilemma facing investors in cases of insolvency and business failure. Mark Fletcher, senior associate and Thomas Bond, associate at Russell-Cooke consider the legal options 

Insight / Directors could land jail term for pension mis-management

The government is to introduce a new criminal offence of ‘wilful or reckless behaviour’ in relation to pensions, which would see ‘devil may care’ directors facing up to seven years in jail, under proposals to crack down on abuse of final or average salary schemes

Tax / Hike in probate fees set to go ahead despite opposition

Probate fees are set to be hiked up to £6,000 for the largest estates as the government plans to overhaul the death tax from April 2019, a measure delayed from 2017 due to the early general election

Insight / Investment scam victims lose average £29,000

Victims of investment scams lost an average of over £29,000 last year, with a total of £197m of reported losses in 2018, according to data from Action Fraud, with the Financial Conduct Authority (FCA) calling for more vigilance on the part of investors

Insight / Asda loses Court of Appeal case over equal pay

Asda shopworkers have won a landmark ruling in a long-running equal pay dispute covering thousands of workers, leaving the supermarket giant facing substantial payments of back pay

Insight / Good Work Plan: what the new workplace laws mean for employers

Workplace practices are set to change when the government introduces new regulations for workers, increasing the compliance burden for employers. Kate Palmer, associate director of advisory at Peninsula, explains the implications and potential pitfalls

Insight / FCA consults on cryptoassets guidance

The Financial Conduct Authority (FCA) is consulting on guidance which sets out what regulation different types of cryptoassets may fall under to help businesses and individuals understand whether they need to be authorised and what rules apply

Insight / Consultation on code for private prosecutors

The Private Prosecutors’ Association (PPA) is consulting on a draft code for anyone who carries out private prosecutions, which allow individuals, businesses or organisations who have been the victims of crime to bring a criminal case themselves, without the involvement of law enforcement agencies

Insight / Insolvency Service warning on pension scams

The Insolvency Service has issued a warning to people to guard their pension savings from investment scammers and negligent trustees, having identified over £200m of losses after closing down 24 companies for pension misuse

Insight / KPMG expands Asia Pacific legal services

KPMG has launched a law firm in Hong Kong and is to open another in Shanghai later in the year as part of moves to expand its legal capabilities in Asia Pacific

Insight / Interim managers appointed at animal charity

The Charity Commission has appointed interim managers to The Alternative Animal Sanctuary due to continued concerns about the governance and management of the charity

Insight / FSB demands reform one year on from Carillion

The collapse of government outsourcer Carillion on 15 January 2018, which cost the taxpayer an estimated £150m, has prompted greater scrutiny of the outsourcing market and calls for a major reform from the Federation of Small Businesses (FSB)

Insight / Government launches economic crime taskforce

The Home Secretary and Chancellor are to jointly chair a government taskforce which will work with senior figures from the UK financial sector to tackle economic crime, including fraud, bribery, corruption and money laundering, which is estimated to cost the UK at least £14.4bn annually

Insight / Calls to strengthen diversity pay reporting

MPs are keen to see more action on gender, ethnicity and executive pay reporting according to a survey by the Association of Accounting Technicians (AAT) which found widespread support for tougher regulation, and is calling for more reporting on action plans to reduce imbalance
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