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Recent Editions
North America
Human Times
Bloomberg reports on how Colorado sparked an international trend for salary transparency when it started forcing employers to include pay ranges in job postings in 2021. Since then, about a dozen other US states have adopted similar requirements, and the European Union will follow suit later this year. Colorado’s law mandates employers to specify pay ranges, and also related benefits such as healthcare, in all job postings. The rule also prohibits employers from asking job candidates about their pay history or using it to determine wages. Such practices have been identified as perpetuating the pay discrimination often faced by women.
Full Issue
UK
Human Times
The UK's jobs market showed a decline in December, with both permanent and temporary positions falling. The KPMG and Recruitment and Employment Confederation (REC) survey indicated a four-month low in permanent placements and a rise in worker availability. Neil Carberry, REC chief executive, noted that business confidence must improve for hiring to recover. The unemployment rate reached 5.1% in Q4, the highest in four years, with predictions of it rising to 5.5%. Jon Holt, group chief executive of KPMG, said: "The jobs market is still signalling caution . . . [bosses] who have been prioritising increased investment in tech to improve resilience and productivity will be looking for signs of greater confidence in the wider economy before turning the hiring taps back on."
Full Issue
USA
Education Slice
The University of Chicago's Consortium on School Research released a report emphasizing the importance of attendance in middle and high schools post-COVID. The study found that chronic absenteeism increased by 20% across all grades, with 40% of Chicago Public Schools (CPS) students considered chronically absent last year. Elaine Allensworth, one of the report's authors, said: "All the studies we do suggest that attendance is still vitally important at all grade levels." The report highlights that schools can significantly influence attendance through strong relationships between teachers and students, as well as a supportive school climate. While external factors like neighborhood safety and economic instability affect attendance, the study asserts that schools have the power to improve attendance rates. CPS is focusing on monitoring student data and enhancing family outreach to address these challenges.
Full Issue
USA
Accountancy Slice
AICPA has revised its criteria for stablecoin reporting to enhance trust and oversight in the sector. The new framework aims to help issuers identify risks and establish control objectives for stablecoin operations. Di Krupica, AICPA senior manager of assurance and advisory innovation – digital assets, said: "Last year saw significant momentum around stablecoin regulation," as she highlighted the growing focus on how stablecoins are issued and managed. AICPA's 2025 Criteria for Stablecoin Reporting: Specific to Asset-Backed Fiat-Pegged Tokens seeks to standardize reporting practices among issuers, thereby promoting transparency and trust in stablecoins, which are digital assets pegged to various backing assets. The first part of the criteria, published last year, aimed to eliminate reporting inconsistencies by providing a common framework for disclosure.
Full Issue
Scotland
Legal Matters Scotland
A hearing to decide whether to allow a judicial review into the proscription of Palestine Action as a terror organisation has been heard at the Court of Session in Edinburgh. The case, brought by former diplomat Craig Murray, challenges last year's order by Home Secretary Shabana Mahmood that made it illegal to support or be a member of the group, citing arrests of Scottish activists under the Terrorism Act 2000. Lawyers for Murray, including Joanna Cherry KC, argued the case has a distinct Scottish dimension, affecting human rights and freedom of assembly, and stressed the urgency given upcoming court appearances for activists. Government lawyers objected on grounds of standing and jurisdiction, noting a parallel review in England, but the judge questioned whether halting the Scottish case would unfairly block Murray’s challenge. Lord Young said he would consider the issues in the case before deciding on whether to allow the action to proceed, and would issue his decision "hopefully this week if not shortly after."
Full Issue
North America
Legal Slice
The U.S. Consumer Financial Protection Bureau and the Department of Justice have withdrawn guidance - issued by former President Joe Biden in 2023 - which expressly prohibited lenders from discriminating against immigrants and non-citizens. "The withdrawal of this joint guidance really underscores the Trump administration's two key priorities: A harder line on immigration and a continued effort to scale back enforcement of the federal fair lending laws," observed Lori Sommerfield, a partner at Troutman Pepper Locke.
Full Issue
Europe
Risk Channel
UBS has rejected a Swiss government proposal to strengthen its rules following the collapse of Credit Suisse. "The proposal would lead to huge added costs and endanger the continuation of the successful business model," UBS said. UBS - Switzerland's sole global bank after the acquisition of its troubled rival - argued proposed measures for foreign units were disproportionate and out of step with international competitors. The Financial Times reports this morning that UBS chief executive Sergio Ermotti plans to step down in April 2027, "firing the starting gun on the race for one of the biggest jobs in global banking."
Full Issue
North America
CFO Slice
Central bank governors from 11 major institutions, including the European Central Bank, Bank of England, and Bank of Canada, have issued a joint statement backing U.S. Federal Reserve Chair Jay Powell as he faces a criminal investigation into a $2.5bn Fed headquarters renovation. The show of solidarity comes amid concerns that the probe, launched by the Trump administration, threatens the Fed’s independence. Mr. Powell has called the investigation a political pretext to undermine monetary policy autonomy.
Full Issue