The latest news on CEL activities, including commentary and debate by CEL Director, Richard Moorhead.
Corporate Lawyers’ Approach to Professional Ethics Could be a “Serious Problem” – Professor Richard Moorhead in Legal Futures
Legal Futures looks at Corporate Lawyers: Values, Institutional Logics and Ethics, a research paper by Professor Richard Moorhead examining the approach taken by corporate lawyers to ethics.
Read: Moorhead: Corporate Lawyers’ Approach to Professional Ethics Could be a “Serious Problem” in Legal Futures More...
Published: Oct 8, 2015 12:37:39 PM
Regulating (from) the Inside: The Legal Framework for Internal Control in Banks and Financial Institutions
Dr Iris H-Y Chiu has just published a monograph, entitled Regulating (from) The Inside: The Legal Framework for Internal Control in Banks and Financial Institutions, 360pp, Hart Publishing, Bloomsbury, Oct 2015.
The book examines a key aspect of the post-financial crisis reform package in the EU and UK – the ratcheting up of internal control in banks and financial institutions. The legal framework for internal controls is an important part of prudential regulation, and internal control also constitutes a form of internal gate-keeping for financial firms so that compliance with laws and regulations can be secured. This book argues that the legal framework for internal control, which is a form of meta-regulation, is susceptible to weaknesses, and such weaknesses are critically examined by adopting an interdisciplinary approach. The book discusses whether post-crisis reforms adequately address the weaknesses in regulating internal control and proposes an alternative strategy to enhance the ‘governance’ effectiveness of internal control. Such alternative strategy is rooted in the enhancement of professionalism and professional ethics in internal control professions. The book shows how financial regulation can be enhanced by reaching into the interface of law, professional ethics and organisational culture. Visit the publisher's website to find out more about the book.
Published: Oct 7, 2015 4:19:25 PM
The Legal Services Act 2007 paved the way for significant regulatory reform, including a new system for resolving complaints and liberalisation to allow ownership and investment in law firms by individuals other than qualified lawyers.
Since late 2014, the legal regulators have been working together to share their experiences and to consider both minor and major changes to the Act in order to facilitate further liberalisation of legal services and to reduce the costs and burden of regulation on practitioners.
Professor Stephen Mayson, an honorary professor in the Centre for Ethics and Law in the Faculty of Laws at UCL, has been chairing the meetings of the chairs and chief executives of the regulatory bodies that have overseen this period of collaboration. As part of this process, he has also chaired an investigation by the regulators of the legislative options that could be considered in any significant reform of the Legal Services Act. The policy and options paper was submitted to Ministers in the Ministry of Justice earlier this month, and was published by the Legal Services Board on 27 July 2015.
This important groundwork should prove timely and valuable in light of the Lord Chancellor's statement to the Justice Select Committee on 15 July that the Act would be reviewed during the life of the current Parliament.
Published: Aug 4, 2015 10:55:50 AM
'The Conversation We Never Had' - SRA to Overhaul Handbook for In-House Counsel as UCL Unveils Ethics Research
Professor Richard Moorhead is interviewed in Legal Business about the UCL Centre for Ethics and Law’s new report, Legal Risk: Definition, Management and Ethics, marking the launch of an ethical leadership initiative for in-house lawyers. More...
Published: Apr 17, 2015 2:14:00 PM
Published: Apr 1, 2015 12:37:59 PM
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