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The UK government has accepted arguments, championed by the Law Society, that UK retail banks should be able to offer derivatives to business customers.
Following last night's defeat in the House of Lords, the Law Society has repeated its call for the scrapping of the discredited 'shares for rights' scheme.
Law Society President Lucy Scott-Moncrieff is in Washington DC this week, attending the American Bar Association (ABA) Section of International Law Spring Meeting.
Pressures on practising solicitors in England and Wales are beginning to show in the latest Law Society's Annual Statistical Report.
This week the Law Society hosted a roundtable discussion with government and opposition parliamentarians to discuss the current proposals to reform UK retail banking.
The Law Society and the Bar Council have welcomed the government's action plan, UK Legal Services on the International Stage: Underpinning Growth and Stability.
The Law Society has warned the proposed Financial Services (Banking Reform) Bill could have negative consequences for businesses, consumers and ultimately the UK's reputation as a leading financial centre.
The change would limit the application of the new instrument to contracts involving distance selling (particularly online transactions).
The Law Society president has signed a memorandum of understanding with the president of the Korean Bar Association, Dr Young-Moo Shin, to build further on links between the two jurisdictions.
The Law Society has echoed government concerns about the proposal for a Common European Sales Law.
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