New regulatory requirements under the fourth EU Money Laundering Directive (MLD4) will encompass more sectors than ever before. Regardless of the UK’s EU membership, any company providing financial services in the EU will need to comply. John Marsden, Head of ID and Fraud at Equifax, comments on the importance of these new rules and how […]
"The surprising Brexit results, coming after recent polls indicated that a majority of UK citizens were in favour of remaining in the European Community, will now likely create several headwinds for US banks. We now see a further decline in long-term US interest rates, a stronger US Dollar, and low probability that the Fed will […]
The vote for Brexit is, we believe, likely to reinforce a recent loss of momentum in parts of the UK economy. We believe the result of the referendum will hit consumer and business confidence, at least in the short term. Business investment, already fragile, will be hurt, and so will credit growth. Capital outflows are […]
Following the referendum, Brexit is about to become a reality. Myriad negotiations will ensue to determine how a future trade between Britain and the European Union might work once the Lisbon treaty is invoked. In parallel, there is another trade deal under review that has renewed importance for a newly independent Britain: The Transatlantic Trade […]
Simon Hunt, UK head of banking and capital markets at PwC, commented: "The UK is one of the world’s leading financial centres. The banking sector plays a major part in generating exports of £23bn to the EU, which helps to drive an overall trade surplus in financial services of £20bn. Retaining this position is the […]
The International Bar Association (IBA) has endorsed ground-breaking guidance for business lawyers on how to practice law with respect for human rights. On 28 May 2016, the IBA Council, the organisation's governing body, voted unanimously to adopt the IBA Practical Guide on Business and Human Rights for Business Lawyers (Practical Guide) during its mid-year meeting […]
Law firms’ bank debts have jumped 36% in the past year, from an average of £28,000 to £38,000 per equity partner, as the profession targets growth, says Hazlewoods, Chartered Accountants and Business Advisers who specialise in the legal profession. Hazlewoods says that as workloads increase across the profession, many firms are increasing headcount and raising […]
The US senate has passed a bill allowing the families of 9/11 victims to file lawsuits against Saudi officials believed to be involved. Although the bill, the Justice Against Sponsors of Terrorism Act (JASTA), will still have to pass through the House of Representatives, it has already set in motion a strong feud between the […]
The insurance industry is failing to pay the NHS tens of millions of pounds in costs of patient care due to inadequate and outdated recovery legislation, warns specialist lawyers Moore Blatch. The NHS is faced with a likely £3 billion overspend in the current financial year, and the lawyers believe that it’s unacceptable that legislation […]
A group of around 300 economists worldwide have been calling for new rules to be implemented, forcing companies to publicly disclose tax activities country-by-country. Reports state that a letter, published by the group of economists and sent to world leaders, urges the UK to take the lead in the battle for corporate tax transparency. Some […]
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