The "big 4" audit, tax and consulting firm EY has announced its intention to have partner votes globally on a split of its largely unregulated consulting businesses and most if its relatively lightly regulated tax business from its heavily regulated auditing business, which is subject to strict SEC and even stricter EU "independence" rules (and somewhat similar regimes elsewhere in the world).
Given that the big 4 are typically approx. 50% American by revenue, if the US firm votes to go ahead, most of the global practices might be thought likely to follow that lead, given the risk of the new US consulting+tax firm becoming their direct competitor.
https://www.nytimes.com/2022/09/08/business/ey-ernst-young-split.html
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