Law and regulation

Insight / Treasury introduces anti-money laundering supervision body

The Treasury has announced the launch of the new Office for Professional Body Anti-Money Laundering Supervision (OPBAS), designed to tackle potential weaknesses in the supervisory system that criminals and terrorists may be trying to exploit, and is also consulting on further developments to the anti-money laundering (AML) supervisory regime

Insight / General Data Protection Regulation (GDPR): HR compliance issues

Social media is flooded with articles about the General Data Protection Regulation (GDPR), lots of statistics and conflicting information but very little in terms of cold hard facts. With the regulations less than 12 months away, Julie Lock, service development director at MHR looks at what GDPR is and what organisations should be doing from a HR perspective to ensure compliance

Insight / Review of Groceries Code Adjudicator finds persistent ‘climate of fear’ in suppliers

A statutory review of the Groceries Code Adjudicator (GCA) has found an ongoing concern that some supermarket suppliers are reluctant to bring issues to the adjudicator owing to a ‘climate of fear’

Insight / Charity Governance Code revised with external reviews every three years

External reviews every three years, greater openness and limits on how long trustees may serve are among recommendations made by a group of charity membership bodies to strengthen governance and accountability

Insight / Auto enrolment pensions taken up by 8.1m workers

More than eight million employees have signed up for a workplace pension since the launch of automatic enrolment, new figures published by The Pensions Regulator show, while around 500,000 businesses have a final deadline of 2018 to complete their legal duties depending on when the company was set up 

Tax / Defining workforce flexibility: employment status for tax purposes

As Matthew Taylor delivers his workforce review, Mazars head of employment tax Vaneeta Khurana examines the current tax rules for different types of workers and employees, and how to determine an individual’s employment status for tax purposes

Insight / Doing time: how judges decide criminal sentences in tax fraud cases

With ostensibly little to account for the length of sentences for financial crimes from trading scandals to tax and VAT fraud, CCH Daily assistant editor Calum Fuller unpicks the issues facing judges when they mete out punishments

Insight / UK and European Commission set out citizens’ rights proposals

Both the UK and European Commission have set out their positions on reciprocal rights for their respective citizens after Brexit

Tax / SFO future appears safe after merger omitted from Queen’s Speech

The Serious Fraud Office’s (SFO) immediate future appears to be secure after references to a potential merger with the National Crime Agency (NCA) were left out of the Queen’s Speech

Insight / Barclays and former executives charged with fraud by SFO

Barclays and four former executives face charges brought by the Serious Fraud Office (SFO) over capital-raising arrangements with Qatar during the financial crisis

Insight / French Arthur Andersen & Co to sue US Andersen Tax

The legal spat between the US and French rivals to the ownership of the Arthur Andersen brand has taken a new twist, with Paris-based Arthur Andersen & Co declaring its intention to sue US Andersen Tax for ‘criminal conspiracy, organised fraud, forgery and use of forged documents’

Insight / Data breaches: preparing for EU General Data Protection Regulation

Changes to data protection laws will have wide-reaching impact on UK companies and subsidiaries, with tough penalties for non-compliance when the EU General Data Protection Regulation (GDPR) is introduced in 2018. Huw Beverley-Smith, a partner in the technology transactions group at Faegre Baker Daniels, considers the implications for accountants

Insight / MEPs reject incomplete anti money laundering blacklist for third time

The European Parliament has again rejected a proposed list of countries at risk of money laundering, financing terrorism or promoting tax evasion as being too narrow in scope, with MEPs calling for the EU to have an independent, autonomous process for judging whether countries pose a threat of financial criminality

Insight / Debt collection rules for consumer debts tougher from October

Debt collection rules due to come into force in October are set to make collecting debt from individuals harder for businesses with higher compliance costs although initial plans to include a copy of the credit agreement with loan chasing letters have been dropped

Insight / Brexit: timing is everything for businesses preparing for EU withdrawal

KPMG director of public policy Mark Essex explains how careful planning and tactical nous are pivotal to how companies navigate their preparations for Brexit, comparing the road to Brexit with a keirin cycle race