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08 December 2023 / John Gould
Issue: 8052 / Categories: Opinion , Regulatory , Profession
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Axiom Ince, SLAPPs, Dixit Shah…who would be a regulator?

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Regulating the legal services industry is not an easy job, as John Gould explains

One of the key challenges faced by legal regulators is how to apply limited resources to achieve the best outcomes in the public interest. Recently two controversies have brought the question of how regulatory risks are prioritised into sharp focus.

Any risk management professional will tell you that the threat posed by a risk is a combination of how likely it is to occur and the impact of the consequences. A nuclear meltdown is less likely to occur than a late running train, but the impact is much greater. Setting priorities must take both into account.

Inevitably different regulatory stakeholders have different priorities but, conventionally, the key interests are those of the regulated profession and the consumers of their services. Each group’s collective interests should largely overlap because both have an interest in ensuring that regulation is cost-effective and maintains high levels of confidence in the regulated profession. But there are other

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MOVERS & SHAKERS

Weightmans—Jason Slatcher

Weightmans—Jason Slatcher

Weightmans appoint new Chief Technology Officer

Mishcon de Reya—trainees

Mishcon de Reya—trainees

Mishcon de Reya announces trainee retention rate of 86%

Sackers—Charlotte Adams & Fraser Sutton

Sackers—Charlotte Adams & Fraser Sutton

Sackers welcomes two new Graduate Solicitor Apprentices

NEWS
LexisNexis is delighted to announce the launch of the LexisNexis Legal Awards 2027, celebrating outstanding achievement, innovation and impact across the legal profession
The Legal Services Board (LSB) is to take further enforcement action against the Solicitors Regulation Authority (SRA), setting additional performance targets and ‘intensifying’ its oversight, it has said
Regulators missed several opportunities to intervene in PM Law Group before it collapsed, an independent review by City firm Jenner & Block has found
An employer’s vicarious liability for the alleged torts of an employee cannot be transferred by TUPE, the Court of Appeal has confirmed
Tiered fees of up to £1,500 for Legal Ombudsman (LeO) cases could leave firms with little option but to pay out, lawyers have warned
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