A recent blog in the Conservative Home by Lord Hodgson of Astley Abbotts outlines the need for transparency in the litigation market, asserting that recent trends including “American-style pursuit of claims” and the self-regulated third party litigation funding industry have put the civil justice system at risk.
“Common-sense safeguards are needed to protect consumers and to ensure that the civil justice system remains balanced, objective and transparent”, writes Lord Hodgson. He cites the Institute for Legal Reform’s Before the Flood: An Outline of Oversight Options for Third Party Litigation Funding in England & Wales, as an instructive analysis on the concerns surrounding the effects of third party litigation funding on the civil justice system. He concludes, “There is a strong argument for a full parliamentary review of the extent of TPLF. This also could usefully consider potential safeguards, including transparency requirements, registration of funders and prohibition on funder control of proceedings”.
Read the full post here.