EU TO CLAMP DOWN ON BOOMING LITIGATION FUNDING SECTOR

On 19 September, the Law Society Gazette reported that the EU is clamping down on what it sees as the worst elements of litigation funding, but UK funders say that those pushing for more regulation have failed to understand how the market works.  It warns that funders look set to fight any attempt by UK legislators to mirror a newly announced clampdown on the sector across the EU.  The EU is said to be planning to curb what it sees as the worst elements of litigation funding, with recommendations for a new system of regulation and a potential cap on fees that can be made on cases.  Other proposals include financial adequacy requirements and an obligation to pay adverse costs, and mandatory disclosure of any litigation funding agreement to all parties and the court.

https://www.lawgazette.co.uk/news-focus/news-focus-eu-to-clamp-down-on-booming-litigation-funding-sector/5113702.article

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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