Singapore to consider MDP introduction

Singapore’s legal fraternity is considering proposals for further liberalisation of the legal sector.

Multidisciplinary practices (MDPs), providing legal and accounting advice, have been the subject of speculation following a preliminary report by Singapore’s Chief Justice Yong Pung How.
The report, prepared by the Justices’ Law Clerks’ Pool, suggests that last year’s decision to permit local and foreign law firms to form joint ventures was the beginning of a campaign of liberalisation within the legal market. Practitioners gave a mixed response, many saying that the joint ventures should be allowed to settle down before more changes are made. VK Rajah, managing partner of Rajah & Tann, told The Straits Times: “Matters that need to be worked out include regulatory, control and conflicts of interest.”
The issue of MDPs prompts concerns over dominance by either profession within a unified firm.