The re-landscaping of the legal profession: large law firms and professional re-regulation

Abstract

The size and scope of global law firms has made them difficult to encompass within a single regulatory jurisdiction. As the UK government sought to take control of the legal profession and market by removing self-regulation and introducing external regulation under the Legal Services Act, the large law firms were able to countermand the new regime. Through a combination of associations like CityUK, the City of London Law Society, as well as through individual firms, large law firms lobbied successfully to reinstate a new form of self-regulation known as AIR. The elites of the legal profession constructed a new logic of professionalism that accorded with the firms’ ideologies and government’s market-oriented objectives. Further attempts to consolidate their position at the EU and at the GATS levels are still in negotiation. Despite the legal market shifting to a more diffuse combination of actors, of which lawyers are only a segment, elite law firms have apparently strengthened their hold.