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Financial News Long-awaited audit reform plans to be published this week By Wednesday March 17, 2021 1:41 pm A blueprint for the shake-up of the UK’s audit sector set to be published this week could include plans for the mandatory clawback of bonuses following corporate wrongdoing. The audit reform whitepaper, due to be published on 18 March, will include proposals for the cancellation or clawback of directors’ bonuses where directors have failed to protect customers and employees interests, Sky News reported. The. ....
Financial News Bitcoin s volatility makes it impractical as a store of wealth or payments mechanism Bitcoin’s exceptional volatility makes it “impractical as a store of wealth or payments mechanism,” the bank s analysts said Getty Images By Wednesday March 17, 2021 2:11 pm Analysts at Bank of America have attacked bitcoin as “exceptionally volatile” and “impractical” in a 17 March research note. In the note, the analysts said there was “no good reason to own bitcoin unless you see prices going up”. The analysts said the supply of the cryptocurrency was by design artificially constrained so demand swings are. ....
Financial News The BNO scheme provides a direct route to UK citizenship for most Hong Kongers By Tuesday March 16, 2021 10:29 am Hong Kong’s uncertain political future has led to a wave of departures over the past 18 months, with cities from Los Angeles to Vancouver seeing an increase in demand for residential property from residents of the city. But as the pace of Hong Kong emigration accelerates, London is emerging as a clear favourite destination, especially among high-net-worth individuals. “The view is that while many global destinations provide strong appeal, the UK property market provides a safe haven with a track record of stability and growth,”. ....
Financial News Brexit equivalence deal for City is now so unachievable it’s ‘silly’ to bother Six months from now, people will have almost forgotten there is such a thing as equivalence “Six months from now, people will have almost forgotten there is such a thing as equivalence,” said a senior lobbyist at a bank in London Getty Images By Monday March 15, 2021 12:01 am There’s a growing consensus forming across the City: The finance sector’s post-Brexit future will be one without equivalence. Six senior City lobbyists at London’s largest banks and trade groups, as well as regulatory advisers to finance s most senior executives told Financial News that they are now preparing for a Brexit deal that does not hinge on equivalence - where the EU allows those with matching standards access to its markets. ....