UK Law Firm Calls For Regulator To Be Stripped Of Dual Role

by Robin Pilgrim, LawAndTax-News.com, London

10 March 2004

Responding to the consultation paper on reform of the legal services sector unveiled this week by Prudential chairman, Sir David Clementi, law firm Clifford Chance called for the UK's Law Society to be divested of its dual role.

Suggesting that having the body as both regulator and representative body for the legal services sector is an "outdated" idea, Clifford Chance's director of public policy, Hilary Platten confirmed that:

"We do not think it is tenable for the Law Society to continue both as a regulator and a representative body."

All three of the proposed regulatory models put forward by Sir David in the consultation document envisage a reduction of the Law Society's powers.

The law firm also announced its support for plans to allow legal professionals such as barristers and solicitors to form "legal disciplinary practices".

Meanwhile, the Law Society suffered another blow recently when the new national chair of the Commerce and Industry Group, Carol Williams criticised the regulator for the lack of support offered to in-house corporate counsel.

Slamming the fact that the price of a practising certificate has increased by 62.5% over the past five years, yet there has been no increase in back-up for the in-house legal sector, she observed that:

"The Law Society, of course, has a captive market. Yet in what other industry could price rises of this magnitude have been imposed?"

Recommended