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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

Walkers—Muriel Marseille

Walkers—Muriel Marseille

Ashurst's Chief Risk Officer joins Walkers

Excello Law—John Osborne

Excello Law—John Osborne

Northern family lawyer John Osborne joins Excello

mfg Solicitors—Rebecca Rogers, Kennedy Langley & Victoria Griffiths

mfg Solicitors—Rebecca Rogers, Kennedy Langley & Victoria Griffiths

Trio of promotions announced at Kidderminster law firm mfg Solicitors

NEWS
A sole director can conspire with their own company for the purposes of the tort of unlawful means conspiracy, the High Court has ruled in a judgment with potentially wide implications for business disputes
The Court of Appeal has reinforced that domicile depends on intention rather than residence alone, in a significant post-Brexit ruling on cross-border financial remedy claims
The Chancery Division's long history comes to an end this autumn as it is reborn as the Business and Property Division, prompting questions over whether the shake-up is really necessary
The Financial Conduct Authority (FCA) continues to show that failing to disclose regulatory issues can attract harsher consequences than the original misconduct itself
Rejecting a generous settlement can prove an expensive mistake, as two recent high-profile cases demonstrate
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