UK lawsuit funding regulations lack teeth to prevent abuses

The Law Society Gazette reports on ILR President Lisa Rickard’s concerns that a proposed set of rules for UK litigation funders lacks the mandatory requirements that could prevent abuses.  “These investors are completely profit-driven and not in it to bring access to justice,” said Rickard. “We don’t think a voluntary code will have any teeth or enforcement powers and lacks any built-in safeguards against wrongdoing.”