Audit giant PricewaterhouseCoopers (PwC) has launched a new 130-strong tax and legal practice – named TLS – in Italy, following the relaxing of regulations governing what services multiple disciplinary partnerships can offer.

Around 80 professionals, including a dozen lawyers, join TLS from Pirola Pennuto Zei & Associati, an independent tax and legal firm which was previously allied with PwC but had no financial ties or formal association.