The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
City law firms are throwing their weight behind David Clementi’s B-model of legal regulation ahead of the Law Society Council meeting this Thursday (22 April).
Law Society chief executive Janet Paraskeva and president Peter Williamson have been taking soundings from City firms as part of the Law Society’s comprehensive roadshow, which has seen representatives meet with over 1000 UK solicitors.
The B-model favoured by City firms involves limited reform, whereby regulatory functions would be retained by the Law Society, but overseen by a central regulator.
However, Paraskeva told The Lawyer that City firms would prefer a variation on the B-model that provides them with a greater degree of autonomy. It is proposed that while High Street firms would continue to be regulated directly by the Law Society, City firms would implement the reforms themselves. The Law Society would then audit firms to ensure compliance.
Thursday’s meeting will assess the results of the Law Society’s consultation with its members to finalise its response to Clementi’s proposed reforms.
Paraskeva hit back at claims the Law Society was an “irrelevance” to City firms, saying: “That view is held by those who only see the Law Society as a consumer complaints mechanism.” Just five seats on the Law Society Council reflect City practices.
“The regulatory framework must allow City firms to keep practising internationally and to keep bringing in billions of pounds. We’re trying to make sure that framework does not get in the way of the fast footwork City firms need to make to operate at the highest international level,” said Paraskeva.
Clementi has said that his recommendations will be delivered on time, before the end of December.