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Britain must do more to tackle corruption in politics and finance, lawmaker says

May 21, 2022
Edna J. May

Britain’s Labour Party MP Margaret Hodge attends Britain’s Labour Party annual conference, in Brighton, Britain, September 26, 2021. REUTERS/Hannah McKay

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LONDON, May 16 (Reuters) – Britain has lost its moral compass and must act to tackle “dirty money” and protect the integrity of its democracy, a senior opposition lawmaker said in a report published on Monday by King’s College London.

Margaret Hodge, a Labour lawmaker for 28 years and former head of parliament’s Public Accounts Committee, said a culture of deregulation and light-touch enforcement had allowed financial malpractice to flourish and

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Finance News
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Supreme Court rules for Ted Cruz in campaign finance dispute

May 20, 2022
Edna J. May

The Supreme Court on Monday ruled for Sen. Ted Cruz (R-Texas) in his legal challenge to federal limits on the amount of money candidates can raise from donors to pay off their personal debt after an election.

The court struck down a $250,000 cap on the amount of post-election funds a candidate can be repaid for personal loans they made to their campaign, finding that the restriction violated the First Amendment.

The 6-3 ruling split along familiar ideological lines, with the court’s conservatives siding with Cruz over a dissent from the court’s three liberals.

Chief Justice John Roberts, writing for

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Finance News
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Supreme Court rules for Sen. Cruz in campaign finance case

May 19, 2022
Edna J. May

WASHINGTON — The Supreme Court’s conservative majority sided Monday with Republican Sen. Ted Cruz of Texas and struck down a provision of federal campaign finance law, a ruling that a dissenting justice said runs the risk of causing “further disrepute” to American politics.

The court, by a 6-3 vote, said the provision Cruz challenged limiting the repayment of personal loans from candidates to their campaigns violates the Constitution. The decision comes just as campaigning for the 2022 midterm elections is intensifying.

Chief Justice John Roberts wrote for the majority that the provision “burdens core political speech without proper justification.”

The

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Finance News
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Economists Sound the Alarm Over UK’s Post-Brexit Finance Plans | Investing News

May 18, 2022
Edna J. May

LONDON (Reuters) – More than 50 economists warned on Monday that Britain’s post-Brexit plans to boost the competitiveness of its huge finance industry risked creating the kind of problems that led to the global financial crisis.

The government, seeking to use its “Brexit freedoms”, announced this month that it would require regulators to help the City of London to remain a global financial centre after the country left the European Union.

The group of 58 economists, including a Nobel Prize winner and former business minister Vince Cable, said making competitiveness an objective could turn regulators into cheerleaders for banks and

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