You are here

David Clementi sets out terms for regulatory review

Secretary of State of the Department for Constitutional Affairs, David Clementi, has set out what he sees as the main issues for his review of the regulation of legal services.

4 November 2003

Add comment

Clementi, an accountant by profession and former deputy governor of the Bank of England, referred to five key architectural issues that will form part of the review. They are: institutional structures and the regulatory maze; the level of self regulation and professionalism within the legal services industry; the handling of complaints against lawyers; unregulated providers and regulatory gaps; and new business structures, including employed lawyers and multi-disciplinary practices.

Similar disciplinary practices, or SDPs, have also been outlined as an important part of the alternative business structure question.

Clementi said: “I have no fixed views about the right approach to regulation. During the consultation process I shall be looking at the medical and accountancy professions and the financial services industry, as well as the regulatory models, which currently exist in the legal-services sector.”

A consultation document will be issued in the early part of next year, for which Clementi hopes to get the maximum range of response. “I really want to hear what people have to say on the issues. This is an opportunity to contribute to a root-and-branch review of the regulation of legal services – I would encourage all to engage in the process. It would be particularly useful to hear from buyers of legal services, as well as providers.”

Categorised in:

Risk & Compliance