Commercial legal finance is an accepted norm of the business of law, crucial to the delivery of legal services by leading firms and to clients of every size and industry. Although media coverage can at times mistakenly convey the idea that there is a rush to increase regulation of the legal finance industry, a review of recent trends suggests that policymakers recognize that commercial legal finance is simply another form of corporate finance and that more regulation is not the answer.
What were the notable 2020 milestones addressing the ethics of legal finance?
Burford's Andrew Cohen is a Director with responsibility for assessing and underwriting legal risk as well as for monitoring policy and regulatory issues in the legal finance industry. Prior to joining Burford, he was a litigator at Debevoise & Plimpton, where he specialized in litigation and regulatory matters involving financial institutions and complex financial products. In this video, he explains the notable 2020 milestones addressing the ethics of legal finance:
- The main legal finance ethics developments in 2020
- What the Arizona law firm ownership rule change means for the industry as a whole
- The launch of ILFA and what this says about the state of the commercial legal finance industry