UK's 'Magic Circle' Law Firms Draft Responses To Clementi Review

by Robin Pilgrim, LawAndTax-News.com, London

08 April 2004

The so-called 'Magic Circle' of top London law firms have all drafted in their most senior partners to formulate responses to the proposals put forward by Sir David Clementi following his review of the legal services sector, according to a Legal Week report.

In the consultation paper on legal services reform published last month, the Prudential chairman dashed hopes that the Law Society would be able to retain its dual role as regulator and representative body for the legal sector, unveiling two "polar" outcomes, which would both nevertheless result in substantial changes for the Society.

The first suggestion made was for the creation of a Legal Services Authority responsible for training, regulation, and discipline, with the Law Society effectively becoming just a trade union for the legal profession.

The second, less radical proposal put forward in the consultation paper was for the creation of a Legal Services Board to sit as an umbrella regulator over the existing regulatory bodies.

Sir David also came out in favour of allowing "legal disciplinary practices" comprising solicitors, barristers, and other legal professionals.

According to Legal Week, the fact that prominent law firms such as Allen & Overy, Linklaters, Clifford Chance and Freshfields Bruckhaus Deringer have tasked their top executives with formulating a response to the consultation suggests that they believe there are several key battles to be won over the proposals.

Clifford Chance's director of public policy, Hillary Plattern confirmed this, explaining to the legal news service that:

"There are all sorts of things that the public policy unit would not get the senior partner involved in. But Clementi is fundamental enough to justify it."

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