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Cyber attacks are having a real impact on companies’ profits

In June this year a piece of malicious software (malware) surfaced in the Ukraine soon began to spread across the world. The malware was a strain of Ransomware which encrypts data before demanding a ransom to be paid in Bitcoin, an internet based digital currency. Maersk was one of the companies that used this accounting software.

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Providers of essential services come under cyber security spotlight

Essential service operators could face fines of up to £17 million or 4% of global turnover if they fail to implement effective cyber security measures.

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16% of care homes at risk of failure

16% of care home companies in the UK are exhibiting warning signs that they are at risk of failure.

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Moore shortlisted for major national awards

The prestigious British Accountancy Awards celebrate quality in the UK accountancy profession by showcasing firms who have demonstrated excellence over the last year.

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British seaside towns see highest rates of bankruptcy

Seven of the Top Ten areas for personal insolvencies are in seaside towns as the British coastal industries and tourism continue their declines.

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MiFID II countdown – five months to go

On 3 July, the FCA published policy statement PS17/14 detailing their final rules on conduct of business and client assets as part of the implementation of MiFID II in the UK. In this article we focus on the new conduct requirements and provide a brief outline on the main changes being introduced on best execution, investment research and inducements. 

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19% of UK estate agents are at risk of going bust

19%  of estate agents  in the UK currently exhibit warning signs that indicate they are at risk of going insolvent *. Our research shows that 4,928 estate agents out of a total 25,560 are showing signs of financial distress.

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Extending the Senior Managers & Certification Regime to all FCA firms – summary of Consultation Paper 17/25 on Individual Accountability

On Wednesday, the FCA issued a consultation paper (CP17/25)  on the extension of the Senior Managers & Certification Regime (‘SM&CR’) to those FSMA authorised firms that are not currently in scope of the regime. The key drivers of this reform are still the same as the original SM&CR that is currently applicable to the banking sector; Improving culture and governance in financial services firms, holding senior managers to high standards through individual accountability and increasing consumer protection remain amongst the highest priorities for the FCA.

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Interest rate rise set to cost households £3.4bn in first year alone

An interest rate rise of just 0.5% would cost households an extra £3.4 billion in interest payments in just the first year.

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Insolvency service continues clampdown on debtors’ irresponsible behaviour

The Insolvency Service is clamping down on individuals who are disposing of their assets irresponsibly when facing financial stress, rather than paying back their debts.

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26% of construction companies at risk of going bust

Our research shows, 26% of construction companies currently exhibit warning signs that indicate they are at risk of failure*.

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Minimum pension contributions are increasing

By law, the minimum amounts paid into automatic enrolment pension schemes are increasing.  Employers need to take action now to check whether and how they are affected.