The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
The move to a risk-based approach to anti-money laundering regulation has yielded little fruit, according to new research.
Last year the Financial Services Authority (FSA) replaced its existing money laundering rulebook with a set of risk-based guidelines.
By doing this the regulator sought to lower the cost of complying to money laundering rules, but according to a survey conducted by accountant PricewaterhouseCoopers (PwC), 82 per cent of financial institutions have not noticed any cost benefits.
Meanwhile, almost 10 per cent of institutions have not yet complied with the new rules, which could lead to a legal minefield.
PwC partner Andrew Clark said progress still needs to be made at a time when there has never been greater pressure on financial institutions to ensure their anti-money laundering controls are fit for purpose.
"It's critical to address the efficiency of anti-money laundering systems," explained Clark. "Many are proving inadequate at identifying potential abusive transactions."