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 today (20 October) told journalists: “My stance is pro competition in looking at regulatory issues. It would be surprising if I concluded that the status-quo was perfect.”