Large Law Firms and Capture: Towards a Nuanced Understanding of Self-Regulation

(2015) 92 The Canadian Bar Review, 485-505

21 Pages Posted: 12 Jun 2015

See all articles by Anita Anand

Anita Anand

University of Toronto - Faculty of Law

Date Written: 2014

Abstract

The limited academic literature on regulation of the legal profession argues that law societies should further regulate large law firms. This article takes a countervailing position and submits that as a result of complex regulatory-like infrastructure that already exists within large firms, the law society has a weak incentive to regulate these firms. Large law firms develop and maintain their own codes of conduct and internal monitoring systems. While the rules of professional conduct serve as a baseline regulatory regime, large law firms have strong incentives to implement as or more stringent rules and relatively weak incentives to capture the law society.

Suggested Citation

Anand, Anita, Large Law Firms and Capture: Towards a Nuanced Understanding of Self-Regulation (2014). (2015) 92 The Canadian Bar Review, 485-505. Available at SSRN: https://ssrn.com/abstract=2616883

Anita Anand (Contact Author)

University of Toronto - Faculty of Law ( email )

78 Queen's Park
Toronto, Ontario M5S 2C5
Canada
4169464002 (Phone)

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