In an interview with the Law Gazette on Thursday, incoming president of the UK's Law Society, Ed Nally suggested that under his stewardship of the industry body and regulator, lawyers throughout the country will be regulated with more sensitivity to their size and situation.
"We have to acknowledge that different types of practices, firms and solicitors operate in different fashions," he explained, continuing: "We need to make sure the City realises we will look at ways to regulate them differently".
However, he refuted suggestions that this would lead to 'hands-off' regulation of large City law firms, observing that:
"It's the responsibility of the Law Society to regulate large City firms in a way which is more proportionate to their needs."
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