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Regulation matters: why it’s time to change

09 July 2020 / Chris Bones
Issue: 7894 / Categories: Features , Regulatory , Profession
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Professor Chris Bones of CILEx explains why the legal profession should not stand in the way of regulatory change
  • Reforming the legal services market: a job half done.
  • Compromises of the Legal Services Act 2007: straining at the seams.
  • Professor Stephen Mayson’s recent independent review of legal regulation: engaging constructively with these new and important proposals.

The job of reforming the legal services market is only half done. Thirteen years on from the Legal Services Act 2007, it has become abundantly clear that the compromise it represented is straining at the seams, and the current COVID-19 crisis has brought this into even sharper relief for both the public and the profession.

Among the regulatory objectives laid down by the Act are protecting and promoting the public interest and the interests of consumers, as well as improving access to justice. Can anyone really claim that a market where the most vulnerable and disadvantaged sections of the public are simply not able to access affordable and effective legal

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MOVERS & SHAKERS

Clarke Willmott—Declan Goodwin & Elinor Owen

Clarke Willmott—Declan Goodwin & Elinor Owen

Corporate and commercial teams in Cardiff boosted by dual partner hire

Hill Dickinson—Joz Coetzer & Marc Naidoo

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London hires to lead UK launch of international finance team

Switalskis—11 promotions

Switalskis—11 promotions

Firm marks start of year with firmwide promotions round

NEWS
Regulators differed in the clarity and consistency of their post-Mazur advice and guidance, according to an interim report by the Legal Services Board (LSB)
The next generation is inheriting more than assets—it is inheriting complexity. Writing in NLJ this week, experts from Penningtons Manches Cooper chart how global mobility, blended families and evolving values are reshaping private wealth advice
Artificial intelligence (AI) is rapidly transforming sport, from recruitment and training to officiating and fan engagement. Writing in NLJ this week, Professor Dr Ian Blackshaw of Valloni Attorneys at Law explains how AI now influences everything from injury prevention to tactical decisions, with clubs using tools such as ‘TacticAI’ to gain competitive edges
The Solicitors Act 1974 may still underpin legal regulation, but its age is increasingly showing. Writing in NLJ this week, Victoria Morrison-Hughes of the Association of Costs Lawyers argues that the Act is ‘out of step with modern consumer law’ and actively deters fairness
A Competition Appeal Tribunal (CAT) ruling has reopened debate on the availability of ‘user damages’ in competition claims. Writing in NLJ this week, Edward Nyman of Hausfeld explains how the CAT allowed Dr Liza Lovdahl Gormsen’s alternative damages case against Meta to proceed, rejecting arguments that such damages are barred in competition law
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