German compliance forces E&Y SErnst & Young’s

Ernst & Young’s (E&Y) German law firm is hiving off half of its Stuttgart office to comply with German rules on auditor independence. Twenty lawyers and notaries will form a new firm, which will be independent of both E&Y and EY Law Luther Menold. According to EY Law, the group will take with it a “significant proportion” of E&Y’s German audit clients. The remainder of the lawyers will stay with Luther Menold and advise E&Y’s non-audit clients. First revealed on 17 November