Accountability and the Regulation of the Large Law Firm Lawyer

Datos Bibliográficos

ID9197344
AutoresJoan Loughrey (0000-0003-0160-3762, University of Leeds, autor de correspondencia)
Año2014
Volumen77
Número5
Páginas732-762
Fecha de publicación2014-09-01
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaModern Law Review (JOURNAL)
Identificadores de la revistaISSN: 0026-7961 • E-ISSN: 1468-2230
EditorialWiley (PUBLISHER • GB)
DOI10.1111/1468-2230.12088
OpenAlexW2148338366
IdiomaEN
Citas recibidas2
Referencias citadas45

The regulation of solicitors in E ngland and W ales has undergone great change in the wake of the Legal Services Act 2007. This article considers these regulatory developments through the lens of accountability, focussing on the regulation of transactional lawyers and the large commercial firms. It examines to what extent the Solicitors Regulation Authority's regulatory framework promotes accountability, examining entity regulation, outcomes‐focussed and principles‐based regulation, reporting and disclosure obligations, the Compliance Officer for Legal Practice and the sanctions system. It argues that although transactional lawyers cannot claim the benefit of the ethical principle of non‐accountability, as far as they and their firms are concerned, the regulatory framework is both unnecessary and insufficient. It duplicates the function of accountability to the client and fails to hold transactional lawyers to account for significant regulatory risks that they present, such as the practice of creative compliance

Accountability · Business · Compliance (psychology) · Economics · Function (biology) · Law and economics · Officer · Political science · Public relations · Sanctions · Transactional leadership · Accounting · Law · Law, Economics, and Judicial Systems · Legal Education and Practice Innovations · Medical Malpractice and Liability Issues · Psychology