Clementi commits to a pro-competition stance
Eighteen-month review of legal services to focus on five broad areas of reform, says Clementi
October 22, 2003 at 08:03 PM
2 minute read
The man charged with overhauling the UK's legal services market has confirmed that the future of self-regulation is to come under tough scrutiny – warning the profession that he does not regard the job as a "popularity contest".
Speaking publicly for the first time since his July appointment to lead the radical review, Prudential chairman David Clementi told journalists on Monday (20 October): "My stance is pro-competition in looking at regulatory issues. It would be surprising if I concluded that the status quo was perfect."
Clementi also signalled that his 18-month review is to focus on five broad areas for reform: the complexity of the current regulatory framework, self-regulation, complaints handling, the existence of 'regulatory gaps' and the introduction of new business structures.
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