The Big Question : Partners support Clementi's plans for external regulator

Senior business lawyers are backing a radical overhaul of the legal profession under the ongoing Clementi review, with nearly half in favour of replacing the Law Society with an external regulator modelled on the Financial Services Authority (FSA).

The key finding comes in the latest Legal Week/ EJ Legal Big Question survey conducted after Prudential chairman David Clementi last month unveiled detailed proposals for his sweeping review of legal services regulation.

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