The Law society of New South Wales has proposed new rules to modernise the Law Society governance to help the body modernise. Guided by a recent membership online survey and advice from corporate governance experts Cameron Ralph Khoury, the Council identified four key areas to improve its effectiveness and agility in representing the profession. The…
LSB updates governance rules to “enhance regulatory independence”
A new set of rules have been released by the Legal Services Board (LSB), which aim to clarify the separation between representative bodies and their regulators. The internal governance rules (IGRs) have been published following a series of public consultations that first began in November 2017. The rules which were released by the oversight regulator…
Governance gone wrong: examining self-regulation of the legal profession
England and Australia have abandoned self-regulation of the legal profession yet Canadian law societies continue to function on this basis. This article argues that the self-regulatory model on which the Law Society of Ontario (the “LSO”) operates represents an inadequate form of governance in terms of the accountability it yields. When compared to other organizations, including law societies…
The Governance of Regulators
The Organisation for Economic Co-operation and Development (OECD) has described a regulatory policy and governance framework. This report describes seven principles for the governance of regulators: Role clarity Preventing undue influence and maintaining trust Decision making and governing body structure for independent regulators Accountability and transparency Engagement Funding Performance evaluation Read ‘The Governance of Regulators’…