Global Legal Post quotes James Walton on the CJC's interim report into litigation funding
Earlier this month, the long-awaited interim report into litigation funding by the Civil Justice Council (CJC), was released. The report devotes a considerable amount of space to a comprehensive review of how oversight of funders has operated up to this point.
The report notes that only 16 of the estimated 44 funders in England and Wales belong to the Association of Litigation Funders (ALF) and points to “questions” raised by courts about the “efficacy” of the ALF’s code of conduct. It further questions whether a £500 cap on fines for member misconduct “is able to provide a sufficient deterrent”.
The Global Legal Post covers the release of the report, and features a number of quotes from James Walton, Partner in our Banking & Finance team in the piece. James also write a longer piece on the report, which can be read here for more details on what it contains and the potential impact of reforms on the sector.
James argues that the report makes a “compelling case” for mandatory regulation of litigation funders by highlighting the limitations of voluntary self-regulation. He continues:
Whilst the CJC does not, of course, nail its colours to the mast, the multiple pages of commentary on the inadequacies of a self-regulatory regime put forward a compelling case for some form of mandatory regulation.
Read the full article in the Global Legal Post here.
