Sanctions stamp

In a significant move, the Japanese government has announced fresh sanctions targeting three senior members of Hamas. Chief Cabinet Secretary Yoshimasa Hayashi revealed on Tuesday that the sanctions would include the freezing of assets and restrictions on payments and capital transactions involving the specified individuals. The decision comes in response to their alleged involvement in the October 7th attacks by Hamas on Israel, with concerns about their ability to use funds to finance further terrorist activities. The government believes that these individuals hold positions enabling them to utilise funds for supporting terrorist activities. 

Meanwhile, just a few days later, the US Treasury Department imposed sanctions on individuals and groups accused of facilitating the flow of Iranian financial assistance to Houthi rebels in Yemen. These sanctions target key figures such as the head of the Currency Exchangers Association in Sana’a, Nabil Al-Hadha, and three exchange houses in Yemen and Turkey. These actions come in response to the Houthi rebels’ targeting of Israel and international shipping lanes since October 7. The measures, blocking access to US property and bank accounts, are part of a broader strategy to curb the illicit flow of funds to the Houthis, who have been conducting dangerous attacks on international shipping, further destabilising the region. The US, along with its allies, emphasises its commitment to targeting facilitation networks supporting the Houthis and their backers in Iran.

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Financial firms are largely exempt from the scope of the directive, for now

The Council and the European Parliament agreed to a provisional deal on the corporate sustainability due diligence directive (CSDDD), which aims to enhance the protection of the environment and human rights in the EU and globally. 

The directive sets obligations for companies to mitigate their negative impact on human rights and the environment such as child labour, slavery, labour exploitation, pollution, deforestation, excessive water consumption or damage to ecosystems. It applies to large EU companies and parent companies with over 500 employees and a worldwide turnover of €150 million. The legislation will also apply to companies with over 250 employees and with a turnover of more than €40 million euro if at least 20 million are generated in certain “high risk” sectors. These actual and potential adverse impacts apply not just across companies’ operations but also up and down their value chains.

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2023 was yet another exciting year for growth at VinciWorks. With two more leading elearning providers, DeltaNet and EssentialSkillz, being fully merged into our brand, we are now able to offer around three times as many courses, and in multiple formats. We offer video courses, five-minute knowledge checks and in-depth courses that can be adapted to suit specific industries and roles. 

Our development team has also been busy. We’ve built an in-browser editor into our courses and will release our “client portal” in 2024 to allow clients to seamlessly manage their staff’s training. We have also added multiple integrations to Omnitrack, software that allows businesses to manage data collection, follow-up, approvals and reporting, all from one centralised portal.

Let’s take a look at our achievements in 2023, before raising a glass to a new year.

2.3m video views

This number has almost doubled since last year and includes 3.8 million hours of video streamed. In 2023, we increased our video capabilities, allowing us to produce video courses using professional actors. We also have several courses that include both film and text, such as our new course on artificial intelligence

Our most popular video courses in 2023:

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Self-described ‘legal trailblazer’ Alice Stephenson’s firm goes into liquidation with £1.5m debt 

What makes for a successful law firm? Reputation, delivering for clients, innovation and keeping the regulators on side are perhaps. For self-described ‘legal trailblazer’ Alice Stephenson, known for her tattoos and high profile social media presence, basic competence was not high on the list of priorities for Stephenson Law.

The firm, which previously won Boutique Law Firm of the Year at the British Legal Awards,  and was shortlisted for UK Law Firm of the Year in 2021, has entered liquidation with an outstanding debt of £1.5 million, with a £800,000 tax bill owed to HMRC. 

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More than 30 leading law firms joined VinciWorks’ recent AML Core Group Meeting. The mission of the Core Group is to share best practice in the field of AML compliance to improve policies and procedures for all and to actively manage AML risk. 

VinciWorks’ Director of Best Practice Gary Yantin gave an AML news update focussing on the recent announcements from the Scottish Law Society and the SRA. Both regulators have pointed out that the level of AML compliance in law firms under their purview is lower than they would like. The SRA reported that less than a third of firms are compliant with 51% only partially compliant. Issues include deficient Source of Funds checks, poor training records and below-standard Risk Assessments. The SRA recently released their standard templates for client and matter risk assessments.

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The firm’s imminent collapse had been an open secret for weeks prior to the closure

The Solicitors Regulation Authority closed down law firm Axiom Ince with immediate effect following its intervention. The firm operated 14 branches in England and Wales and employed over 1400 people. The move involves all of its offices and makes all staff redundant.

The closure follows much speculation over the firm’s ability to operate as its insurance cover had expired. The SRA had suspended the individual practices of directors Pragnesh Modhwadia, Idnan Liaqat and Shyam Mistry in August. In a statement, the SRA said the action had been necessary to protect the interests of clients and former clients of the firm.

In a statement, the SRA said, “An intervention means we have closed a firm with immediate effect. We will stop the firm from operating, take possession of all documents and papers held by the firm, and take possession of all money held by the firm (including clients’ money). We are not responsible towards employees or trade creditors of firms that we have intervened in.”

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The watered down Worker Protection (Amendment of Equality Act 2010) Act 2023 will do little to change sexist cultures

The new act which received Royal Assent on 26 November 2023 and will come into force next year is a far cry from the initial proposals once championed by then Women and Equalities minister Liz Truss. 

Gone is the duty to protect employees from sexual harassment by third parties like clients or suppliers. Gone too are harassment protections related to other protected characteristics. Even harassment related to sex (like sexism or misogyny) is not included in the new law, only harassment that is specifically of a sexual nature. 

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In the fast-evolving landscape of workplace diversity, the issue of neurodiversity discrimination has emerged as a pressing concern. Recent data reveals that employment tribunals have witnessed a significant uptick in cases involving allegations of neurodiversity discrimination, with a staggering 102 cases reported in the past year. Even as organisations are increasingly aware of the benefits of a neurodiverse workforce and the competitive edge that this can bring, paying lip service with empty words policies is not enough: organisations must adopt proactive measures to ensure the well-being and fair treatment of neurodivergent employees.

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Our latest research into Google’s online search patterns sheds light on the growing need for menopause support in the workplace. 

Recent findings demonstrate a significant increase in online searches related to menopause and workplace adjustments, indicating a pressing demand for more inclusive workplaces. Online queries for ‘menopause and workplace adjustments’ have surged by a staggering 80% over the past four years (data analysed from October 2019 to September 2023). In parallel, searches for ‘menopause training course and menopause awareness training’ have risen by 75% over the same period.

Furthermore, searches for ‘menopause support in the workplace’ have increased 63% in the last four years. Intriguingly, the term ‘menopause-friendly workplace’ also saw a 63% uptick.

Nick Henderson-Mayo, Head of Diversity and Inclusion at VinciWorks, highlighted the significance of these findings, stating, “What’s clear is that menopause and its symptoms are becoming increasingly crucial issues that organisations need to address. The fact that searches for menopause and workplace adjustments have surged by 80% over the past four years indicates that employees want this issue to be taken more seriously and seek support from their employers to navigate this challenging phase.”

As more women and transgender individuals experience menopause, the need for workplace support becomes even more evident. According to an Office for National Statistics report, approximately 4.5 million women aged 50-64 are currently employed, with many contemplating leaving their jobs due to menopausal symptoms.

Nick continued, “There’s no reason firms shouldn’t be offering menopause leave. Particularly given the high cost of replacing experienced staff, losing high-performing women at this point would be a disaster. Menopause leave is a cost-neutral policy that’s not hard to implement. Increased awareness and comprehensive training is fundamental, particularly because one in ten women aged 45-55 has resigned from their jobs due to these challenges.”

Here are several actionable tips for organisations to support employees facing menopause:

  • Provide training to both managers and staff to facilitate open conversations about menopause and ensure managers can recognise and support employees experiencing it.
  • Break the stigma by demonstrating empathy towards staff going through menopause and asking sensitively about their needs and well-being.
  • Develop a workplace menopause policy or integrate menopause into existing health and wellness policies so that employees are aware of their rights and available support.
  • Consider flexible working arrangements, such as adaptable working hours or remote work options, to accommodate employees dealing with menopausal symptoms.
  • Ensure workplace facilities are comfortable by providing temperature control, access to private restrooms, and cold water and fans.
  • Allow flexible use of sick leave or personal days to manage the unpredictable nature of menopausal symptoms or permit short breaks as needed.

To aid HR and Health and Safety managers’ understanding of menopause, VinciWorks is offering a complimentary World Menopause Day guide and a free trial of its Menopause at Work training course.

For more information and resources, please visit VinciWorks’ Diversity Awareness Training courses.

The Market Abuse Regulation (MAR) is aimed at prohibiting insider dealing and unlawful disclosure of inside information, and market manipulation. Train your employees to protect them and your organisation from costly mistakes which could result in fines or even imprisonment. This eLearning course on MAR is set in an immersive format enabling learners to explore real-life case studies and evaluate the conduct presented to reduce the risks of breaching FCA regulations.

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