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Court of Appeal Ruling on Motor Finance Mis-selling: Economic Boost Amid Budget Deficit Concerns

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CHELTENHAM, England, Nov. 7, 2024 /PRNewswire/ — In light of the UK Budget’s focus on tackling the national deficit, a landmark Court of Appeal ruling in Johnson v. FirstRand Bank could deliver a significant economic boost through potential motor finance mis-selling compensation. Backed by consumer advocates Sentinel Legal, this historic decision may return billions to the UK economy, aligning with the government’s financial objectives.

Economic Impact Comparable to PPI:

The Johnson ruling could mirror the economic lift achieved through Payment Protection Insurance (PPI) compensation after the 2008 crisis, which at its peak contributed up to 3% of the UK’s GDP. With an estimated 90% of all new cars bought using finance—often involving undisclosed or excessive costs—the ruling may affect millions of households and redirect over £21 billion back into the economy.

Government Revenue from Taxed Compensation:

This decision also presents a potential tax revenue stream for the government. Compensation could be taxed at the source, similar to PPI payouts, which generated billions for the Exchequer. This additional revenue arrives at a crucial moment when the government is under pressure to bridge the budget gap.

Sam Ward, Director at Sentinel Legal, stated, “This ruling provides a rare win-win: justice and financial redress for consumers, while also contributing to economic recovery. The parallels with PPI’s impact are striking, and we believe this case has the potential to provide the economic boost the UK urgently needs.”

Support for Consumers and Accountability for Lenders:

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For consumers, the ruling offers an opportunity to reclaim funds from lenders who used unfair finance practices, with funds likely reinvested into household budgets. The decision also signals an industry-wide call for transparency and accountability in motor finance.

Ward added, “Through compensation, we’re not only providing financial redress but putting money back into people’s pockets at a time when household budgets are stretched. This is a unique chance to genuinely support the public.”

Pathway for Claims with Sentinel Legal:

 The Johnson ruling empowers consumers to challenge lenders over unfair practices, excessive interest rates, and undisclosed commissions. Sentinel Legal, with a record of over £300,000 recovered in motor finance compensation, is offering free consultations and a no-win, no-fee service for those who may be eligible for redress.

This landmark ruling not only offers a critical pathway for consumer justice but also stands to stimulate the UK economy during a time of pressing financial need.

Contact:
Kelly Lewins
[email protected]
07960937800

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Hakluyt announces new partnership with Orchestras for All

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LONDON, Nov. 26, 2024 /PRNewswire/ — Hakluyt, the global strategic advisory firm for businesses and investors, has today announced a new social impact partnership with Orchestras for All (OFA), on the eve of the charity’s Big Give Campaign launch.

Orchestras for All is a UK-based charity that works with 11-19 year-olds to widen access to music, with a particular focus on those who face challenges such as disability, deprivation or caring responsibilities.

Drawing on its connectivity and in-house expertise, Hakluyt will advise the charity on issues as it seeks to fulfil its mission to ensure that all children, regardless of background or circumstance, are able to share in the benefits of group music-making.

Hakluyt, which has been providing in-kind support to the charity since 2022, has now formalised a partnership with Orchestras for All that will see it provide advice and guidance across a range of strategic challenges in order to help the charity widen its impact and reach more young people.

Kayo Yoshida, who co-leads Hakluyt’s work with Orchestras for All, said: “Orchestras for All does invaluable work sharing the benefits of music with children who have often been shut out of creative opportunities. I am personally delighted to be working with them, and look forward to our partnership flourishing over the coming years.”

Alexandra Davison, who also co-leads Hakluyt’s work with the charity, commented: “The opportunities that Orchestras for All offers can be life-changing for young people. The myriad benefits of musical education to children’s development and educational attainment are well known, and Orchestras for All is an organisation with a proven track record of widening access to music for the children who need it most.”

Nick Thorne, Executive Director of Orchestras for All, added: “We are delighted to have formalised our partnership with Hakluyt, and are incredibly grateful for the support they provide. This relationship is one of our most significant corporate partnerships to date, offering both financial support and advisory services. 

“The funding Hakluyt have provided will not only help OFA continue providing its life-changing musical programmes, but also enable our participation in the Big Give Christmas Challenge 2024. Through this campaign, OFA aims to raise vital funds to ensure that more young people can access inclusive and transformative music-making opportunities.”

Notes to Editors

Hakluyt is a strategic advisory firm that works with corporate leaders and investors around the world on their most important commercial issues. For more information on the firm, please visit www.hakluytandco.com

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Orchestras for All (OFA) is an Arts Council National Portfolio Organisation that breaks down barriers to give all young people the life-changing experience of making music together, regardless of the daily challenges they might be facing. Its inclusive, non-auditioned National Orchestra for All (NOFA) brings together 100 young musicians from across the UK who would otherwise be unable to access musical opportunities – whether due to physical disability, a mental health condition, economic deprivation, or rural isolation.

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MarketsandMarkets appoints Nirmal Shani as Managing Partner in Dubai, in line with IPO plans

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DELRAY BEACH, Fla., Nov. 26, 2024 /PRNewswire/ — MarketsandMarkets, the only Indian-origin startup to feature in the Forbes list of ‘America’s Best Management Consulting Firms 2023’, has appointed Nirmal Ramesh Shani as Managing Partner.

Nirmal joins MarketsandMarkets from S&P Global to lead its real-time megatrend disruption impact platform for the global energy sector. He has over 23 years of experience with IHS Markit, Dun & Bradstreet, and Times of India. During his formative years, he supported his family business, exporting Indian handicrafts to Japan and USA.

Sandeep Sugla, Founder and CEO of MarketsandMarkets, said: “It’s my pleasure to welcome Nirmal to MarketsandMarkets. His leadership further strengthens our ability to address customer needs at a time when the global energy, power, chemical, material, and industrial sectors are undergoing unprecedented transformations. We estimate approximately USD 25 trillion emerging from new revenue sources by 2030 as megatrends like AI, clean tech, blockchain, IoT, etc., disrupt current revenue streams of customers and the customer’s customers.”

Milan Rao, COO and CRO of MarketsandMarkets, said, “Nirmal joins a growing list of global leaders who are committed to taking our AI-enabled platform, KnowledgeStore, and our cutting-edge growth and disruption consulting capabilities to over 13,000 clients globally. His knowledge and expertise will add significantly to our presence in the energy and ESG sectors worldwide.”

Nirmal is passionate about energy and sustainability; in his most recent role at S&P Global, he helped create landmark platforms — such as the CERAWeek Asia Pacific Energy Forum in Houston, the India Energy Forum in New Delhi, the partnership with PETRONAS for Energy Asia in Kuala Lumpur, and with Japan’s Ministry of Economy, Trade and Industry (METI) for the Asia Green Growth Partnership Ministerial Meeting (AGGPM) — to elevate the Voice of Asia within the global energy system towards an ‘Equitable Energy Transition for All’. 

On his appointment, Nirmal said: “MarketsandMarkets helps progress my mission to the next level. I haven’t seen any other platform in the world that provides such a telescope for global energy, chemical, and industrial leaders to analyze the impact of disruptive shifts in real-time and in an interconnected way. The proprietary tools combined with exclusive on-demand access to research, and a dedicated growth program manager ensures our clients avoid missing blind spots and gain early mover advantages.”

Nirmal is an alum of Narsee Monjee College and Welingkar Institute of Management. He serves on the Board of Advisors/Governing Council of Umang Foundation, a non-profit organization with whom he has been associated since 2009. His philanthropic initiatives focus on education and health-related issues in rural India.

About MarketsandMarketsTM 

MarketsandMarkets, recently featured on the Forbes list of America’s Best Management Consulting Firms, is a blue ocean alternative in growth consulting and program management with the widest lens on emerging technologies, leveraged through a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. The B2B economy is witnessing the emergence of USD 25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. MarketsandMarkets works with several Forbes Global 2000 B2B companies, helping them monetize this USD 25 trillion opportunity—through TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing—and stay relevant in a disruptive ecosystem. MarketsandMarkets’ cutting-edge AI-powered KnowledgeStore™ platform (Market Intelligence Cloud) integrates research and facilitates analyses of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To learn more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn, and Facebook.

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Media inquiries:
Mr. Rohan Salgarkar
USA: +1-888-600-6441

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Co-founders Aman Gupta and Sandeep Sugla with Nirmal Shani at MarketsandMarkets headquarters in Pune, India.
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StarCompliance Expands Cryptocurrency Compliance Capabilities with the Acquisition of Aer Compliance

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Bringing traditional securities trading compliance and digital asset management into one comprehensive solution

ROCKVILLE, Md., Nov. 26, 2024 /PRNewswire/ — StarCompliance (Star), a leading SaaS provider of employee compliance technology solutions, is excited to announce the acquisition of Argus Inc. DBA  Aer Compliance (Aer), a leader in cryptocurrency trading pre-clearance and post-trade monitoring solutions. This strategic acquisition positions Star clients to monitor and mitigate risk more holistically by bringing traditional securities trading, and now digital assets, into one comprehensive solution. With Aer’s unique capability to monitor at the coin and wallet level—going beyond ETFs— Star’s clients will gain unparalleled visibility and control in the rapidly evolving cryptocurrency landscape.

“By integrating Aer’s advanced technology into our platform, Star is helping our clients prepare and get ahead of emerging regulations in the fast-changing cryptocurrency space,” said Jennifer Sun, CEO of Star. “We’ve been very fortunate to work with Owen and his team over the last 18 months as partners and now look forward to our future as a combined company.”

Owen Rapaport, Aer’s co-founder and CEO, will join Star as Executive Director of Product Management, Digital Assets, continuing to develop, integrate and introduce innovative solutions for mitigating cryptocurrency and digital asset risk. This acquisition builds on Star’s leadership position in regulatory compliance, adding advanced tools to Star’s Employee Conflicts of Interest suite, tailored to the rapidly evolving world of digital assets, ensuring clients stay ahead of emerging regulatory requirements.

The Aer acquisition adds several capabilities to Star’s robust offerings, including:

  • Configurable, automated employee pre-trade clearance, post trade monitoring and automated alerts for digital assets
  • Elimination of manual trade reviews with the ability to identify potential violations with post-trade monitoring across 130+ exchanges and 30+ blockchains
  • Recognition of undeclared employee accounts using public blockchain data
  • AI technology enabling assisted reviews of marketing content for unsubstantiated statements of material facts and hypothetical performance leading to faster approvals.

“As cryptocurrency continues to mature both as a personal investment asset class and a strategic business line for financial institutions, the demand for robust compliance solutions has never been greater,” said Rapaport. “Star’s vision for advancing employee compliance aligns perfectly with Aer’s commitment to fostering trust and integrity in this evolving landscape. Together, we will deliver cutting-edge products and usher in a new era of cryptocurrency trading and compliance.”

About Aer Compliance

Aer Compliance (Aer), incorporated in Delaware as Argus Inc., is the first employee trade compliance solution for digital assets. With a customer base comprising the largest funds and market makers globally, Aer’s software brings robust controls to this world of emerging risks. As regulators increase their scrutiny of cryptocurrency, Aer is the essential way to ensure appropriate measures are in place to protect both the firm and its employees. Aer’s US federal public sector work further informs its cutting-edge approach to compliance. You can find out more about the solution at www.aercompliance.com

About StarCompliance

StarCompliance (Star) is a leading provider of employee compliance technology solutions. Trusted for over 25 years by over a million users in 114 countries, Star’s next-generation platform and user-friendly interface delivers the data, technology, and actionable insights needed to proactively mitigate risk, monitor conflicts globally, and support complex whistleblowing regulations. Visit www.starcompliance.com to discover the comprehensive security and unparalleled assurance you need to build a culture of compliance today. 

Media Contact:
Greg Tarmin
+1 917-868-7791
[email protected]

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