Law Society draft conflict rules meet barrage of City criticism

Harris, Joanne; Begum, Husnara
July 2005
Lawyer;7/4/2005, Vol. 19 Issue 26, p80
Trade Publication
The article reports that law firms have berated the Law Society in Great Britain for the ambiguity of new draft rules governing conflicts of interest. The new rules, which are yet to be approved by the British Department of Constitutional Affairs (DCA), attempt to provide a framework that is more workable for law firms. The proposed system relaxes the rules for corporate deals involving auction sales by allowing firms to act for rival bidders and/or those involved with the funding of bidders. The criticisms have also been backed by the DCA's legal services consultative panel in its advice to the Lord Chancellor. In a report published last month, the panel expressed concern about the breadth of the proposed rule. It recommended that the wording be redrafted to clarify the rules regarding exceptions to the duty not to act and the requirement for client consent.


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