Law Society Condemns Plans For Economic Crime Levy

Law360, London (October 14, 2020, 1:51 PM BST) — The government’s plans for a financial crime levy on law firms and other regulated businesses is “a special tax on the legal profession” that could make companies less willing to invest in Britain, an industry body warned on Wednesday. 

The Law Society, the professional body that represents more than 140,000 practicing solicitors in England and Wales, said the industry already devotes significant resources as it complies with its obligations to counter money laundering and financial crime.

Simon Davis, the society’s departing president, said that pushing up the cost of doing business would hit the competitiveness of the legal sector in the international market…

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Society condemns ‘special tax on legal profession’ | News

Government plans for a levy to fund the fight against financial crime amount to a ‘special tax on the legal profession’, the Law Society said today. In a strongly-worded response to a consultation on the economic crime levy announced by the chancellor earlier this year, Chancery Lane said any levy based on income would be especially harmful to the profession.

‘The legal profession is fully committed to supporting the fight against economic crime and takes anti-money laundering responsibilities very seriously,’ outgoing Law Society president Simon Davis said. ‘Law firms already play an important role in tackling money laundering, as demonstrated by the substantial costs and resources allocated by the profession to comply with its anti-money laundering (AML) and financial crime obligations.’

He noted that further increasing the cost of doing business would hit the international competitiveness of the legal sector and the willingness of law firms to invest in the

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‘Put these animals in jail’: Trump condemns protestors in Portland

  • President Donald Trump blasted demonstrators who organized in Portland on Sunday evening. 
  • “Put these animals in jail, now,” he tweeted Monday morning. “The Radical Left only knows how to take advantage of very dumb ‘leadership’ fools. This is Biden! Law & Order!”
  • People gathered in the Oregon city for an event called “Indigenous Peoples Day of Rage Against Colonialism” to protest Columbus Day and toppled two statues of former presidents. 
  • Trump also tweeted that New York and California have gone “to hell.”
  • Visit Business Insider’s homepage for more stories.

President Donald Trump doubled down on his “law and order” campaign rhetoric on Monday morning by denouncing protestors in Portland, Oregon, and calling for their arrests after some of them toppled two statues on Sunday night.

“Put these animals in jail, now,” Trump said on Monday morning in a retweeted video of the protests. “The Radical Left only knows how to

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