When K&L Gates published comprehensive financial results on its website back in February it marked a rare bid for transparency by a major US law firm. Without the disclosure requirements foisted on their UK counterparts by regulations governing limited liability partnerships, financial information about US firms to date has been fairly limited and available on their own terms. 

That is not to say that UK firms have been a beacon of transparency. While we aim to shed light on the performance of the leading firms in the form of our UK top 50, and most do co-operate – thank you – it seems each year there are new and varied excuses as to why certain figures are not available (although Allen & Overy deserves credit for its efforts at financial disclosure, being one of the few firms to produce detailed – and audited – figures at this stage).

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