The Financial Services
Authority threw out its ‘light-touch’ regulatory regime for hedge
funds yesterday, as it bowed to fierce lobbying from shareholders, consumer
groups and investment trusts.
The changes are expected to bolster the current position by including certain
mandatory requirements that are lacking, such as the appointment of a board.
Investment bankers and lawyers expressed concern that the change could see
several hedge funds abandon London in favour of Amsterdam.
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
Smaller businesses could be excluded from government plans for making business transactions digital, found new research from ICAEW
Further powers are being sought by HMRC, but it is ‘failing’ to use those it already has, such as Conduct Notices, says RPC
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live