
PWC - Deal Talk Blog
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Buying, selling, merging, divesting, restructuring or refinancing a business? The Deal Talk blog gives PwC’s opinion, analysis and insight to corporate and private equity leadership and senior management to help guide them through the mergers & acquisitions (M&A) landscape.
PWC - Deal Talk Blog
2y ago
by Matthew Russell Partner, Financial Crime
+44 (0)7803 858642
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by Ben Luddington Director, PwC UK
+44 (0)7764 958062
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In a recent Dear CEO letter to retail banks, the FCA highlighted concerns over financial crime systems and controls. It noted that weaknesses in financial crime controls are sufficiently serious to have led to business restrictions, enforcement actions and skilled person appointments under a ‘section 166’.
Under section 166 of the Financial Services and Markets Act, the FCA has a power to require a firm and certain other person ..read more
PWC - Deal Talk Blog
2y ago
by Kathryn Westmore Forensic Accountant
+44 (0) 20 7213 2942
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The FCA’s recent Dear CEO letter reveals a regulator frustrated with the lack of compliance with some basic principles of money laundering regulations from retail banking firms. It’s a comprehensive list of areas where they see organisations failing to meet regulatory obligations or manage their anti-money laundering (AML) risks effectively.
With the increased focus on underlying offences such as human trafficking and the illicit wildlife trade, these weaknesses will only make it harder for organisations ..read more
PWC - Deal Talk Blog
2y ago
by Ermelinda Beqiraj Partner, PwC United Kingdom
+44 (0)7872 005508
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We’re living in an age of accountability and transparency; the damage to a brand and customer relationships can be enormous when things go wrong. If companies do face a mass claim situation, it needs to be dealt with quickly, efficiently, transparently and fairly. But not all companies have the necessary scale, infrastructure or resources to do this. Even organisations with claims teams and past experience can find the combination of a sudden crisis, volume and complexity of claims a challenge.&n ..read more
PWC - Deal Talk Blog
2y ago
by Jessica Wilkinson Senior Manager, Forensic Investigations, PwC United Kingdom
+44 (0)7525 282723
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The use of recruitment agencies has come under scrutiny, following a recent investigation detailed in the Guardian regarding ‘Mini Umbrella Companies’, which typically employ and pay agency workers.
Most recruitment agencies operate legitimately, but not all. HMRC has warned that MUCs can be used to evade tax and undermine workers’ rights - estimates suggest they cost billions in taxes and unpaid wages each year. Given the dangers that this poses, the topic of how to ..read more
PWC - Deal Talk Blog
2y ago
by Rob Wilson Procurement Protect Lead, PwC United Kingdom
+44 (0)7889 645101
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The way we all work has undergone a significant shift. But what’s often forgotten is that this change doesn’t only apply to us. Criminals have adapted too. In particular, disruption caused by the pandemic has created an opportunity around procurement fraud and left companies with a tricky problem. How to spot the fraud when there’s no more ‘business as usual’.
Fraud tends to happen when there is opportunity, incentive, and the ability to rationalise the act. The pandemic has offered up all thr ..read more
PWC - Deal Talk Blog
2y ago
by Patrick Marter Partner, Procurement and Cost Transformation, PwC United Kingdom
+44 (0)7710 611619
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As the economy begins to recover, organisations in every sector are focused on minimising costs. For financial institutions, margin squeeze in wholesale and institutional banking is adding to the pressure. However, despite over a decade-long focus on cost (post financial crisis) there are still real, untapped, saving opportunities.
One of the most significant of these is in variable trading costs paid by financial institutions, such as brokerage, clearing, exchang ..read more
PWC - Deal Talk Blog
2y ago
by Ben Luddington Director, PwC UK
+44 (0)7764 958062
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by Smita Verma Manager, PwC UK
+44 (0)7483 936020
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As cryptocurrencies become increasingly popular, they continue to attract extensive financial crime regulations. Custodian wallet providers, issuers, cryptoasset ATMs and crypto exchanges must now register with the Financial Conduct Authority (FCA) and comply with the Money Laundering Regulations. Crypto firms are now obliged to conduct Know-Your-Customer (KYC) checks, monitor suspicious transactions and breaches of financial sanctions and f ..read more
PWC - Deal Talk Blog
2y ago
by Mark Anderson Automotive Forensics Leader and Supply Chain Resilience Leader, PwC UK
+44 (0)7770 921256
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Every year the Oxford English Dictionary announces a ‘word of the year’ that reflects the year’s mood and developments. In 2020, due to the sheer number of developments, it announced 47. Lockdown, support bubbles, doomscrolling, zoombombing. All became mainstream last year, cementing their place in everyday conversation, sometimes overnight.
Though it didn’t make the official list, I definitely saw a rise in the use of ‘supply chain resilience’ in strategic conve ..read more
PWC - Deal Talk Blog
3y ago
by Michael Gibbons Partner, Financial Services, PwC UK
+44 (0)7841 569523
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by Paul Youster Director, PwC UK
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The world of change management has not escaped 2020’s ripple effect. At the start of lockdown, businesses had to rapidly adapt on a massive scale, with many shifting staff to remote working within days. Within weeks, some organisations needed the agility to set up and manage new areas of their business to deal with a spike in customer demand. Elsewhere for many others, large scale programmes had to be paused, accelerated, amended or i ..read more
PWC - Deal Talk Blog
3y ago
by Michael Gibbons Partner, PwC UK
+44 (0)7841 569523
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Our recent survey found the majority of our clients planned to use more managed solutions in the coming months, even before COVID-19. In fact, it appears that over half of all consulting spend in the next decade will be on managed services. The question is: why?
Clients asking for advice on how to do things better is the daily norm for professional services. But in the last couple of years, and accelerated in response to the pandemic, something has changed. Clients are going one step further. Don’t just advise m ..read more