The Centre for Policy Studies welcomes the publication today of the Competition and Markets Authority (CMA) report on the transparency of legal services.
In February this year the Centre for Policy Studies report The Price of Law drew attention to the failure of corporate law firms to provide transparency to customers over the pricing of their services.
The report, authored by leading costs lawyer Jim Diamond, revealed that hourly rates for a partner at a top London firm now exceed £1,000, the highest level ever recorded.
The report urged steps to ensure fair practice in legal procedure – particularly an investigation into uncompetitive practices in top corporate law.
Following publication of the report, the CMA approached Jim Diamond to provide evidence towards their legal services market study, published today.
Click here to read the full CPS report, The Price of Law and a summary of the coverage it received.
1. The Price of Law was published by the Centre for Policy Studies on Friday 5 February 2016.
2. Jim Diamond is a leading expert in UK legal costs/budgets. He has spent over 30 years in the legal industry, including spells working in-house for firms such as Clifford Turner (now Clifford Chance) and Allen & Overy. He has published articles in the specialist and national media, has and spoken at numerous conferences for over two decades, on the question of legal costs. In December this 2016, Lawyer Monthly Magazine announced Jim Diamond the Costs Lawyer of the Year 2016.