The OFT provides a response to questions regarding the future of the rank of Queen's Counsel in the UK. Some key points:
1) The OFT questions whether it is appropriate for the government to be awarding a title that enhances earnings and competitive position. This can distort competition.
2) A quality mark scheme run by the government also risks distorting competition and threatening advocate independence due to the government's role as a major purchaser of legal services.
3) In its current form, the QC title does not provide transparent, objective information about quality to help consumers and lacks ongoing monitoring of quality once awarded. Therefore it does not truly function as a useful quality mark.
Dear Members,
We are pleased to present to you ‘TransPrice Times – July 2018 edition’.
This periodical covers key court rulings on selection of different tested party; FAR analysis and Rule of consistency.
Apart from this, recent news relating to the draft e-commerce policy released by Government of India have been discussed in the periodical. Links to the OECD’s recent activity and our Special Edition article on ‘Changing Colours of Indian Tax Audit (3CD)’ have also been cited.
We trust you will find this update useful and informative.
We would be happy to know your suggestions. You can write to us at akshaykenkre@transprice.in
Thank You and Happy Reading!!
Legal shorts 05.12.14 including Chancellor’s 2014 Autumn statement and FCA up...Cummings
The document provides a summary of recent legal and regulatory developments in the UK financial services industry. Key points include the Chancellor's Autumn Statement which supported peer-to-peer lending and crowdfunding, changes to stamp duty, and using bank fines to fund GP practices. Other summaries discuss FCA guidance on AIFM reporting, ESMA consulting on asset segregation under AIFMD, and the FCA establishing a new webpage for crowdfunding platforms.
The document summarizes recent antitrust enforcement actions and priorities in various industries. It notes that health care will remain a key focus in 2011, as regulators scrutinize mergers and investigate anticompetitive practices in the industry. Enforcement in the technology sector against dominant firms will also continue. Additionally, actions like the recent lawsuit against American Express indicate increased attention on the financial services industry.
- Significant payments of $25,000 or more made by clinical trial sponsors to investigators/institutions must be disclosed under FDA regulations. The intent is to disclose compensation that could influence study outcomes.
- Ten Canadian pharmaceutical companies have agreed to annually disclose total payments made to doctors and medical associations starting in 2017.
- The first reporting period for the European Federation of Pharmaceutical Industry Associations' transparency disclosures closed on June 30, 2016. Several member countries have made or plan to make changes to disclosure requirements.
- The motor insurance industry is undergoing significant upheaval due to changes in regulation, economic conditions, technology, and customer behavior.
- Regulation like Solvency II has increased complexity for insurers while unintended consequences of other regulations have increased costs.
- Economic uncertainty and a slow recovery has led insurers to be risk averse and delay investments in innovation.
- Market competition is increasing as new digital entrants may disrupt the industry and consolidate auto repair shops are changing insurer-repairer relationships.
- Insurers face challenges from legacy IT systems that inhibit their ability to respond to changes and compete with new digital competitors.
Researchmoz | Dermatology Partnering Terms And AgreementsQYResearchReports
This document provides a summary and analysis of dermatology partnering deals and agreements since 2007. It details the types of agreements companies typically enter into at different development stages. The majority of deals are discovery-stage licenses where companies license technology for further development. The document also analyzes trends in financial terms like upfront payments, milestones, and royalties by development stage. It provides over 1,500 links to actual dermatology deals and contracts between companies.
The document discusses the new 2015 Public Contracts Regulations in the UK, which aim to reduce barriers for SMEs and voluntary organizations bidding for public sector contracts. It explains the key changes such as prohibiting pre-qualification for contracts under the EU threshold and limiting suitability questions for larger contracts. It also summarizes Exor's services for validating suppliers to help contracting authorities comply with the regulations.
The document discusses the increasing regulatory requirements placed on appraisal management companies (AMCs) and how carefully selecting an AMC partner can help lenders comply. It outlines the progression of appraiser and AMC regulation starting with the Home Valuation Code of Conduct in 2008 in response to the financial crisis. Key regulations discussed include the Dodd-Frank Act which established federal rules for AMCs in 2015. The document advises lenders to consider an AMC's experience, processes for ensuring quality work and regulatory compliance, and relationships with appraisers when selecting a partner.
Dear Members,
We are pleased to present to you ‘TransPrice Times – July 2018 edition’.
This periodical covers key court rulings on selection of different tested party; FAR analysis and Rule of consistency.
Apart from this, recent news relating to the draft e-commerce policy released by Government of India have been discussed in the periodical. Links to the OECD’s recent activity and our Special Edition article on ‘Changing Colours of Indian Tax Audit (3CD)’ have also been cited.
We trust you will find this update useful and informative.
We would be happy to know your suggestions. You can write to us at akshaykenkre@transprice.in
Thank You and Happy Reading!!
Legal shorts 05.12.14 including Chancellor’s 2014 Autumn statement and FCA up...Cummings
The document provides a summary of recent legal and regulatory developments in the UK financial services industry. Key points include the Chancellor's Autumn Statement which supported peer-to-peer lending and crowdfunding, changes to stamp duty, and using bank fines to fund GP practices. Other summaries discuss FCA guidance on AIFM reporting, ESMA consulting on asset segregation under AIFMD, and the FCA establishing a new webpage for crowdfunding platforms.
The document summarizes recent antitrust enforcement actions and priorities in various industries. It notes that health care will remain a key focus in 2011, as regulators scrutinize mergers and investigate anticompetitive practices in the industry. Enforcement in the technology sector against dominant firms will also continue. Additionally, actions like the recent lawsuit against American Express indicate increased attention on the financial services industry.
- Significant payments of $25,000 or more made by clinical trial sponsors to investigators/institutions must be disclosed under FDA regulations. The intent is to disclose compensation that could influence study outcomes.
- Ten Canadian pharmaceutical companies have agreed to annually disclose total payments made to doctors and medical associations starting in 2017.
- The first reporting period for the European Federation of Pharmaceutical Industry Associations' transparency disclosures closed on June 30, 2016. Several member countries have made or plan to make changes to disclosure requirements.
- The motor insurance industry is undergoing significant upheaval due to changes in regulation, economic conditions, technology, and customer behavior.
- Regulation like Solvency II has increased complexity for insurers while unintended consequences of other regulations have increased costs.
- Economic uncertainty and a slow recovery has led insurers to be risk averse and delay investments in innovation.
- Market competition is increasing as new digital entrants may disrupt the industry and consolidate auto repair shops are changing insurer-repairer relationships.
- Insurers face challenges from legacy IT systems that inhibit their ability to respond to changes and compete with new digital competitors.
Researchmoz | Dermatology Partnering Terms And AgreementsQYResearchReports
This document provides a summary and analysis of dermatology partnering deals and agreements since 2007. It details the types of agreements companies typically enter into at different development stages. The majority of deals are discovery-stage licenses where companies license technology for further development. The document also analyzes trends in financial terms like upfront payments, milestones, and royalties by development stage. It provides over 1,500 links to actual dermatology deals and contracts between companies.
The document discusses the new 2015 Public Contracts Regulations in the UK, which aim to reduce barriers for SMEs and voluntary organizations bidding for public sector contracts. It explains the key changes such as prohibiting pre-qualification for contracts under the EU threshold and limiting suitability questions for larger contracts. It also summarizes Exor's services for validating suppliers to help contracting authorities comply with the regulations.
The document discusses the increasing regulatory requirements placed on appraisal management companies (AMCs) and how carefully selecting an AMC partner can help lenders comply. It outlines the progression of appraiser and AMC regulation starting with the Home Valuation Code of Conduct in 2008 in response to the financial crisis. Key regulations discussed include the Dodd-Frank Act which established federal rules for AMCs in 2015. The document advises lenders to consider an AMC's experience, processes for ensuring quality work and regulatory compliance, and relationships with appraisers when selecting a partner.
Based on my recent work with several co-authors this paper explores the relationship between discretion, reputation, competition and entry in procurement markets. I focus especially on public procurement, which is highly regulated for accountability and trade reasons. In Europe regulation constrains the use of past performance information to select contractors while in the US its use is encouraged. I present some novel evidence on the benefits of allowing buyers to use reputational indicators based on past performance and discuss the complementary roles of discretion and restricted competition in reinforcing relational/reputational forces, both in theory and in a new
empirical study on the effects restricted rather than open auctions. I conclude reporting preliminary results form a laboratory experiment showing that reputational mechanisms can be designed to stimulate rather than hindering new entry.
The ability of an empowered CMA to carry out its supervisory and enforcement
mandate effectively fosters public confidence in the securities industry. An
effective regulator acts in the interest of the public and has processes that are
open and accountable to the public and the regulated entities.
In 2008-2009, AfriCOG responded to a call for stakeholder input into the new
proposed regulations developed by the CMA under the financial and legal sector
technical assistance project. AfriCOG’s response involved a study of the financial
markets, with the capital markets as one of the sectors reviewed.
The Global Financial Crisis triggered a worldwide review of audit policies. Regulators in Europe, the UK, and US proposed major reforms to audit practices like mandatory firm rotation and prohibiting non-audit services. Responses to the proposals were mixed, with some arguing they could improve audit quality and independence while others felt they may increase costs and reduce audit quality. New Zealand is taking a wait-and-see approach and focusing on recent licensing reforms while international standards continue to develop.
Article on teleInter- Regulatory Space : A case for healthy cooperation --- K...KK SHARMA LAW OFFICES
The Competition Commission of India (CCI) seeks to develop a formal consultation mechanism with sector regulators like the Department of Telecommunications (DoT) regarding merger and acquisition rules. The CCI's mandate under the Competition Act is to examine combinations (mergers and acquisitions) across all sectors that may have adverse competitive effects. Developing coordination between regulators could help avoid potential jurisdictional conflicts and regulatory uncertainty for businesses. The CCI aims to establish healthy cooperation with sector regulators based on their respective expertise to best promote competition while providing certainty to markets.
In a bumper edition of Public Matters, we cover:
• the OFT’s recent report into the supply of ICT to the public sector
• further analysis of the new public procurement directive
• a new case on ineffectiveness
• the latest state aid developments, an analysis of PFI savings, case law developments on consultation obligations and recent developments on information sharing.
The greatest Australian competition reforms in 20 years?Martyn Taylor
The Australian Commonwealth Government announced in December 2013 that it will undertake a fundamental review of Australian competition policy. This review is colloquially known as the ‘root and branch’ review. The Review will involve the most comprehensive consideration of Australia’s competition and regulatory framework in 20 years.
This document outlines IFAC's policy on the recognition of professional accountancy qualifications across borders. It discusses how globalization has increased demand for international practice, but national rules have created barriers. The GATS agreement aims to reduce such barriers by ensuring equal treatment and transparent criteria. IFAC supports mutual recognition, provided high professional standards are maintained. It recommends bilateral recognition initiatives first, based on consistent evaluation of key qualification components like education, experience and ethics requirements.
SYSTEMIC REPORT "CHALLENGES AND PROBLEMS IN THE SPHERE OF COMPETITION PROTECT...Iaroslav GREGIRCHAK
The Report commences by focusing at the current state of the AMCU’s institutional capacity, where we recommend to ensure that its’ annual plans clearly specifies the main priority areas for the forthcoming year, including, if applicable, markets to be studied.
While discussing lack of sufficient cooperation between the AMCU and other state authorities, it focuses on the need to develop a roadmap aimed at implementing the NCP Concept for 2014-2024 by the ministries and other state bodies.
The document continues with comprehensive analysis of the AMCU’s core operational functions comprising investigation, decision-making and enforcement.
As for the AMCU’s authority to grant consents on concentration, it is proposed that (i) consideration of a non-competition agreement (lodged while seeking such a consent) is conducted on the basis of a so-called “simplified procedure”; and that (ii) the legislation is amended to clearly identify the parties liable for failure to notify about concentration.
As for the AMCU’s function to investigate cases on abuse of monopolistic (dominant) position, it is recommended to (i) set clear deadlines for consideration (investigation) of such cases; and (ii) expressly provide that if an applicant were to withdraw its’ application, it shall not constitute the ground for automatic termination of case consideration.
The AMCU’s internal decision-making procedure is proposed to be adjusted to ensure that all decisions are jointly taken by all members of the AMCU’s Board of Commissioners, save for the Commissioner who investigated the case and who, nonetheless, remains to be entitled to present results of investigation at the respective procedural hearing, albeit without the right to vote.
As for the AMCU’s enforcement function, our main recommendation is to adopt Methodology for Calculating Amount of Fine as a binding legislative act.
As far as access to information is concerned, the Council proposes (i) introducing electronic database that would enable applicants to retrieve general information about the current status of consideration of requests/applications lodged with the AMCU, which is not confidential in nature; and (ii) improving existing procedure of granting parties to the AMCU’s hearings access to the materials of the case.
In order to make the existing leniency regime more inclusive, the Council recommends reducing fines for parties other than the first one to file.
As for the area of non-judicial challenging result of public procurements, the Council proposes to further specify the rights of the parties to the procedure of non-judicial challenging of the results of public procurements with the AMCU.
Last but not least, the Report concentrates on the forthcoming legal framework on the state aid, set to become effective in the middle of 2017.
- The proposed memorandum and articles of association for the shared services company would require amendments to comply with current UK company law and remove provisions relating to charities.
- The 'Teckal' exemption from EU procurement rules would likely apply if the member colleges collectively control the shared services company through ownership.
- VAT exemption was confirmed for a professional membership organization but may not apply to a shared services company providing varied services to members. Obtaining a new ruling is recommended. Membership fees can vary by size but a partial membership for some services only would be difficult to structure for VAT exemption.
This document discusses corporate governance in India. It begins by providing context on the state of corporate governance in India prior to reforms, noting issues like managing agency systems, licensing requirements, corruption, and ineffective oversight. It then discusses current weaknesses in corporate governance in India, including related party transactions, board independence, and enforcement. The document concludes by recommending improvements like increasing board independence, separating CEO and chairperson roles, strengthening shareholder rights and enforcement, and improving transparency and disclosure.
This document discusses corporate governance in India. It notes that in the decades after independence, India adopted socialist policies that stifled corporate growth and bred corruption. The situation deteriorated further as tax rates encouraged creative accounting and DFIs provided loans but had little oversight over companies. Overall, corporate governance was weak in India with non-transparent practices and a lack of accountability.
This paper reports results from a laboratory experiment exploring the relationship between reputation and entry in procurement. There is widespread concern among regulators that favoring suppliers with good past performance, a standard practice in private procurement, may hinder entry by new (smaller or foreign) firms in public procurement markets. Our results suggest that while some reputational mechanisms indeed reduce the frequency of entry, so that the concern is warranted, appropriately designed reputation mechanisms actually stimulate entry. Since quality increases but not prices, our data also suggest that the introduction of reputation may generate large welfare gains from the buyer.
Dominant Position :Competition Law(Competition Act,2002)Bibhu Manik
The Article deals with Definition,Abuse of Dominant Position,Dominant Factors in Relevant Market and its analysis with Recent Cases regarding Competition Act,2002
Effects of Government Procurement on Prompt Tendering and Supply of Goods: A...inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
The document is Nawras' response to TRA's public consultation on market definitions, dominance, and related regulations. In the summary, Nawras generally supports TRA's competition framework but notes several changes in the telecom landscape not reflected in TRA's report. Nawras prefers ex-post regulation and developing competition laws and codes of practice to support this. Nawras agrees with most of TRA's candidate markets but thinks Market 1 should be amended from retail access to include wholesale access. Nawras also cautions applying retail remedies before assessing effects of wholesale remedies and notes some of TRA's conclusions lack empirical evidence.
Nawras's response to the competition framework public consultation traoman
1) Nawras provides comments on TRA's public consultation on market definitions, dominance, and related regulations.
2) Nawras agrees with many of TRA's underlying competition principles but disagrees with some of TRA's conclusions regarding specific markets being susceptible to ex ante regulation.
3) Nawras believes the retail fixed voice call market should not be subject to ex ante regulation as competition is developing, and recommends focusing regulation on the wholesale level first before considering retail remedies.
The document provides an analysis of competition in the GB electricity retail market. It finds that while price competition is strong, barriers to entry remain, particularly for smaller suppliers, such as dealing with government policy and regulatory intervention, liquidity issues, and network charge instability. However, forcing changes to reduce barriers also carries costs, so policymakers need to ensure benefits of new entry outweigh these costs. The market is evolving rapidly due to decarbonization goals, so its future structure is uncertain. Overall competition compares well internationally, but pressure to innovate should continue.
(1) There is a need for healthy cooperation between the Competition Commission of India (CCI) and other sector regulators to ensure the quality of economic regulation and avoid conflicts.
(2) While sector regulators have expertise in their industries, CCI has expertise in competition issues. Consultation between the two can help address regulatory issues from both competition and industry perspectives.
(3) The author argues that CCI seeking to provide input into sector regulators' merger and acquisition guidelines, such as those for telecom, is reasonable given CCI's mandate to evaluate combinations under the Competition Act. Regular consultation and coordination between regulators is beneficial.
This SEC in Focus includes remarks from SEC Chairman Jay Clayton on cybersecurity disclosures in SEC filings, recent guidance on pay ratio disclosure requirements, regulatory relief for companies and individuals affected by recent hurricanes, staff clarifications about its nonpublic review program and recent trends in SEC staff comments on non-GAAP measures and other topics.
The document provides guidelines and templates for organizations to ensure legal and ethical use of software. It includes templates for a company software policy, software code of ethics, software user profiles, and software budget planning. It also provides guidance on using a software register to track software licenses electronically or manually, and a template for an employee memorandum to communicate the software policy.
This document provides an overview of the rewards of working as a lawyer for the federal government compared to private practice. It highlights that while salaries may be lower, government lawyers have more opportunities for meaningful work and responsibility early in their careers. Benefits such as generous leave, health insurance, retirement plans, and loan repayment assistance can help offset the salary difference. Government lawyers also enjoy shaping public policy, reasonable work-life balance without billable hours pressure, and flexibility to transfer between agencies or locations. Interviews with several current and former government attorneys illustrate these points.
Based on my recent work with several co-authors this paper explores the relationship between discretion, reputation, competition and entry in procurement markets. I focus especially on public procurement, which is highly regulated for accountability and trade reasons. In Europe regulation constrains the use of past performance information to select contractors while in the US its use is encouraged. I present some novel evidence on the benefits of allowing buyers to use reputational indicators based on past performance and discuss the complementary roles of discretion and restricted competition in reinforcing relational/reputational forces, both in theory and in a new
empirical study on the effects restricted rather than open auctions. I conclude reporting preliminary results form a laboratory experiment showing that reputational mechanisms can be designed to stimulate rather than hindering new entry.
The ability of an empowered CMA to carry out its supervisory and enforcement
mandate effectively fosters public confidence in the securities industry. An
effective regulator acts in the interest of the public and has processes that are
open and accountable to the public and the regulated entities.
In 2008-2009, AfriCOG responded to a call for stakeholder input into the new
proposed regulations developed by the CMA under the financial and legal sector
technical assistance project. AfriCOG’s response involved a study of the financial
markets, with the capital markets as one of the sectors reviewed.
The Global Financial Crisis triggered a worldwide review of audit policies. Regulators in Europe, the UK, and US proposed major reforms to audit practices like mandatory firm rotation and prohibiting non-audit services. Responses to the proposals were mixed, with some arguing they could improve audit quality and independence while others felt they may increase costs and reduce audit quality. New Zealand is taking a wait-and-see approach and focusing on recent licensing reforms while international standards continue to develop.
Article on teleInter- Regulatory Space : A case for healthy cooperation --- K...KK SHARMA LAW OFFICES
The Competition Commission of India (CCI) seeks to develop a formal consultation mechanism with sector regulators like the Department of Telecommunications (DoT) regarding merger and acquisition rules. The CCI's mandate under the Competition Act is to examine combinations (mergers and acquisitions) across all sectors that may have adverse competitive effects. Developing coordination between regulators could help avoid potential jurisdictional conflicts and regulatory uncertainty for businesses. The CCI aims to establish healthy cooperation with sector regulators based on their respective expertise to best promote competition while providing certainty to markets.
In a bumper edition of Public Matters, we cover:
• the OFT’s recent report into the supply of ICT to the public sector
• further analysis of the new public procurement directive
• a new case on ineffectiveness
• the latest state aid developments, an analysis of PFI savings, case law developments on consultation obligations and recent developments on information sharing.
The greatest Australian competition reforms in 20 years?Martyn Taylor
The Australian Commonwealth Government announced in December 2013 that it will undertake a fundamental review of Australian competition policy. This review is colloquially known as the ‘root and branch’ review. The Review will involve the most comprehensive consideration of Australia’s competition and regulatory framework in 20 years.
This document outlines IFAC's policy on the recognition of professional accountancy qualifications across borders. It discusses how globalization has increased demand for international practice, but national rules have created barriers. The GATS agreement aims to reduce such barriers by ensuring equal treatment and transparent criteria. IFAC supports mutual recognition, provided high professional standards are maintained. It recommends bilateral recognition initiatives first, based on consistent evaluation of key qualification components like education, experience and ethics requirements.
SYSTEMIC REPORT "CHALLENGES AND PROBLEMS IN THE SPHERE OF COMPETITION PROTECT...Iaroslav GREGIRCHAK
The Report commences by focusing at the current state of the AMCU’s institutional capacity, where we recommend to ensure that its’ annual plans clearly specifies the main priority areas for the forthcoming year, including, if applicable, markets to be studied.
While discussing lack of sufficient cooperation between the AMCU and other state authorities, it focuses on the need to develop a roadmap aimed at implementing the NCP Concept for 2014-2024 by the ministries and other state bodies.
The document continues with comprehensive analysis of the AMCU’s core operational functions comprising investigation, decision-making and enforcement.
As for the AMCU’s authority to grant consents on concentration, it is proposed that (i) consideration of a non-competition agreement (lodged while seeking such a consent) is conducted on the basis of a so-called “simplified procedure”; and that (ii) the legislation is amended to clearly identify the parties liable for failure to notify about concentration.
As for the AMCU’s function to investigate cases on abuse of monopolistic (dominant) position, it is recommended to (i) set clear deadlines for consideration (investigation) of such cases; and (ii) expressly provide that if an applicant were to withdraw its’ application, it shall not constitute the ground for automatic termination of case consideration.
The AMCU’s internal decision-making procedure is proposed to be adjusted to ensure that all decisions are jointly taken by all members of the AMCU’s Board of Commissioners, save for the Commissioner who investigated the case and who, nonetheless, remains to be entitled to present results of investigation at the respective procedural hearing, albeit without the right to vote.
As for the AMCU’s enforcement function, our main recommendation is to adopt Methodology for Calculating Amount of Fine as a binding legislative act.
As far as access to information is concerned, the Council proposes (i) introducing electronic database that would enable applicants to retrieve general information about the current status of consideration of requests/applications lodged with the AMCU, which is not confidential in nature; and (ii) improving existing procedure of granting parties to the AMCU’s hearings access to the materials of the case.
In order to make the existing leniency regime more inclusive, the Council recommends reducing fines for parties other than the first one to file.
As for the area of non-judicial challenging result of public procurements, the Council proposes to further specify the rights of the parties to the procedure of non-judicial challenging of the results of public procurements with the AMCU.
Last but not least, the Report concentrates on the forthcoming legal framework on the state aid, set to become effective in the middle of 2017.
- The proposed memorandum and articles of association for the shared services company would require amendments to comply with current UK company law and remove provisions relating to charities.
- The 'Teckal' exemption from EU procurement rules would likely apply if the member colleges collectively control the shared services company through ownership.
- VAT exemption was confirmed for a professional membership organization but may not apply to a shared services company providing varied services to members. Obtaining a new ruling is recommended. Membership fees can vary by size but a partial membership for some services only would be difficult to structure for VAT exemption.
This document discusses corporate governance in India. It begins by providing context on the state of corporate governance in India prior to reforms, noting issues like managing agency systems, licensing requirements, corruption, and ineffective oversight. It then discusses current weaknesses in corporate governance in India, including related party transactions, board independence, and enforcement. The document concludes by recommending improvements like increasing board independence, separating CEO and chairperson roles, strengthening shareholder rights and enforcement, and improving transparency and disclosure.
This document discusses corporate governance in India. It notes that in the decades after independence, India adopted socialist policies that stifled corporate growth and bred corruption. The situation deteriorated further as tax rates encouraged creative accounting and DFIs provided loans but had little oversight over companies. Overall, corporate governance was weak in India with non-transparent practices and a lack of accountability.
This paper reports results from a laboratory experiment exploring the relationship between reputation and entry in procurement. There is widespread concern among regulators that favoring suppliers with good past performance, a standard practice in private procurement, may hinder entry by new (smaller or foreign) firms in public procurement markets. Our results suggest that while some reputational mechanisms indeed reduce the frequency of entry, so that the concern is warranted, appropriately designed reputation mechanisms actually stimulate entry. Since quality increases but not prices, our data also suggest that the introduction of reputation may generate large welfare gains from the buyer.
Dominant Position :Competition Law(Competition Act,2002)Bibhu Manik
The Article deals with Definition,Abuse of Dominant Position,Dominant Factors in Relevant Market and its analysis with Recent Cases regarding Competition Act,2002
Effects of Government Procurement on Prompt Tendering and Supply of Goods: A...inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
The document is Nawras' response to TRA's public consultation on market definitions, dominance, and related regulations. In the summary, Nawras generally supports TRA's competition framework but notes several changes in the telecom landscape not reflected in TRA's report. Nawras prefers ex-post regulation and developing competition laws and codes of practice to support this. Nawras agrees with most of TRA's candidate markets but thinks Market 1 should be amended from retail access to include wholesale access. Nawras also cautions applying retail remedies before assessing effects of wholesale remedies and notes some of TRA's conclusions lack empirical evidence.
Nawras's response to the competition framework public consultation traoman
1) Nawras provides comments on TRA's public consultation on market definitions, dominance, and related regulations.
2) Nawras agrees with many of TRA's underlying competition principles but disagrees with some of TRA's conclusions regarding specific markets being susceptible to ex ante regulation.
3) Nawras believes the retail fixed voice call market should not be subject to ex ante regulation as competition is developing, and recommends focusing regulation on the wholesale level first before considering retail remedies.
The document provides an analysis of competition in the GB electricity retail market. It finds that while price competition is strong, barriers to entry remain, particularly for smaller suppliers, such as dealing with government policy and regulatory intervention, liquidity issues, and network charge instability. However, forcing changes to reduce barriers also carries costs, so policymakers need to ensure benefits of new entry outweigh these costs. The market is evolving rapidly due to decarbonization goals, so its future structure is uncertain. Overall competition compares well internationally, but pressure to innovate should continue.
(1) There is a need for healthy cooperation between the Competition Commission of India (CCI) and other sector regulators to ensure the quality of economic regulation and avoid conflicts.
(2) While sector regulators have expertise in their industries, CCI has expertise in competition issues. Consultation between the two can help address regulatory issues from both competition and industry perspectives.
(3) The author argues that CCI seeking to provide input into sector regulators' merger and acquisition guidelines, such as those for telecom, is reasonable given CCI's mandate to evaluate combinations under the Competition Act. Regular consultation and coordination between regulators is beneficial.
This SEC in Focus includes remarks from SEC Chairman Jay Clayton on cybersecurity disclosures in SEC filings, recent guidance on pay ratio disclosure requirements, regulatory relief for companies and individuals affected by recent hurricanes, staff clarifications about its nonpublic review program and recent trends in SEC staff comments on non-GAAP measures and other topics.
The document provides guidelines and templates for organizations to ensure legal and ethical use of software. It includes templates for a company software policy, software code of ethics, software user profiles, and software budget planning. It also provides guidance on using a software register to track software licenses electronically or manually, and a template for an employee memorandum to communicate the software policy.
This document provides an overview of the rewards of working as a lawyer for the federal government compared to private practice. It highlights that while salaries may be lower, government lawyers have more opportunities for meaningful work and responsibility early in their careers. Benefits such as generous leave, health insurance, retirement plans, and loan repayment assistance can help offset the salary difference. Government lawyers also enjoy shaping public policy, reasonable work-life balance without billable hours pressure, and flexibility to transfer between agencies or locations. Interviews with several current and former government attorneys illustrate these points.
Revised By General Counsel Memorandum Of Agreement Between University Oflegal3
This memorandum of agreement establishes a partnership between the University of Southern California School of Social Work and an unnamed agency to provide supervised field experiences for social work students. Key points of the agreement include:
- The school and agency commit to cooperating in providing field placements for students from the effective date until renewal or termination of the agreement.
- The school agrees to select appropriate students for placement and provide consultation, training, and evaluations to support student and field instructor development.
- The agency agrees to accept students in accordance with civil rights laws, provide resources and qualified field instructors to support student learning.
- Roles and responsibilities are outlined for the school liaison, field instructor, and all parties to ensure
Right To Counsel A Analysis Of How The Right To An Attorneylegal3
The document summarizes a Supreme Court case, Betts v. Brady, that analyzed whether the right to counsel extended to state courts under the 14th Amendment. The case involved a man denied a lawyer during his trial for robbery in Maryland state court. The Supreme Court ruled 6-3 that the 14th Amendment did not require states to provide counsel for indigent defendants in every case. However, denial of counsel by a state could in some cases violate due process rights. A later case, Gideon v. Wainwright, would eventually overturn this ruling and incorporate the right to counsel against the states.
This document outlines a proposal for a new formalism called an evolving transformation system (ETS) to represent structural or symbolic information. ETS aims to address longstanding issues with existing representational formalisms, which are largely based on numeric models and do not adequately capture the temporal, structural nature of objects. The proposal discusses obstacles that have prevented the development of structural representation formalisms, and argues that ETS provides the first framework for understanding classes as evolving structural entities rather than static sets.
This document discusses legal issues related to cervical cancer screening and the NSW Pap Test Register. It is divided into seven parts that cover: the structure and principles of establishing liability; recruitment of women for screening; taking Pap smears; testing Pap smear slides; notifying women of results; managing women with abnormal results; and the operation of the Pap Test Register. The document analyzes both the common law responsibilities and statutory duties of health practitioners and laboratories involved in cervical screening at each stage of the process.
West Devon Borough Council Letter Of Representation Our Ref Datelegal3
This letter from West Devon Borough Council confirms various representations to their auditors regarding the council's financial statements for the year ended March 31, 2008. It acknowledges the council's responsibility to prepare fair and accurate financial statements. It represents that the auditors have been provided all relevant information and records, the statements are free from material misstatements, and there are no undisclosed related party transactions or post-balance sheet events. It also notes that some identified audit adjustments were considered immaterial and not worth adjusting the statements for. The letter was approved by the council on September 30, 2008.
Voting And Representation Systems In Agricultural Cooperativeslegal3
A survey of 1,403 US agricultural cooperatives was conducted in 1995 regarding their voting and representation systems. The key findings were:
1. 93% of direct-membership cooperatives (those with individual farmers as members) used a one-member, one-vote system, while 7% used proportional voting based on patronage.
2. For direct cooperatives, at-large elections of board directors were most common (66%), while geographic districting was used by 23%.
3. Among federated and mixed cooperatives (those with other cooperatives and/or individual farmers as members), 27 of 31 federated and 24 of 29 mixed used one-member, one-vote.
Two Tiers Of Representation And Policy The Eu And The Future Of ...legal3
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1. The future of Queen's Counsel
Response from the Office of Fair Trading
October 2003
OFT680
2. CONTENTS
Chapter Page
1 Introduction 1
2 Our response 3
Annexe
A Extract from the OFT's report 'Competition in professions', 17
published March 2001
B Extract from the report by consultants LECG, published 19
alongside the OFT's report 'Competition in professions',
March 2001
3.
4. 1 INTRODUCTION
1 The issuing of this consultation by the Department for Constitutional
Affairs brings to a head1 the debate on the use and relevance of the rank
of Queen's Counsel.
2 In March 2001 OFT published a report Competition in professions2 which,
among other things, drew attention to what OFT considered to be critical
shortcomings of the Silk System. That report, while acknowledging that
some of the old restrictions surrounding the conduct of QCs had been
removed, highlighted as fundamental the issue of whether it is
appropriate for government to confer a title on selected practitioners
which enhances their earning power and competitive position relative to
others. The report also questioned the value of the QC system to
consumers. The report recognised that the issue was one not for OFT but
for government to address, and called on government to take the matter
forward.
3 In a subsequent progress statement published in April 20023, we
reiterated our concern at government involvement in the appointment of
QCs, and set out in more detail why we consider that the QC title is
unlikely to be useful to consumers as a quality mark and why we
consider that the award of the QC title may distort competition:
'Governmental involvement in distinguishing between junior
barristers and QCs has no parallel in other markets. In addition, we
question the operation of the system as a quality mark. A mark will
generally only be of value to consumers where certain conditions
are met. One of these is that it be awarded according to clear
criteria and in a transparent way that has particular regard to the
experience of purchasers. Whether the QC system meets this
condition remains open to debate. Another condition is that the
1
See the foreword by Lord Falconer to the Department of Constitutional Affairs, consultation
Constitutional Reform: The Future of Queen's Counsel, July 2003.
2
OFT 328 Competition in professions, published March 2001, at paragraphs 45 and 46,
reproduced here for convenience at Appendix 1. The report is available on the OFT website at
www.oft.gov.uk. See also paragraphs 270 -279 of the report of consultants LECG published
with OFT's report in March 2001 reproduced here for convenience at Appendix 2 and available
also on our website at www.oft.gov.uk.
3
Competition in professions Progress Statement, available at www.oft.gov.uk
The Office of Fair Trading 1
5. mark can be lost as well as won; and that continued holding of the
mark is contingent upon continued high quality performance. This
condition is clearly not met by the QC system. Moreover, we are
concerned that the QC title may operate to distort competition.
One sign of this is the step-change in fees that QCs are said to
command; another is that custom and practice has given rise to
some de facto demarcations as to what work is and is not suitable
for QCs. It has also been suggested frequently that the operation
of the QC title displays elements of a quota system and that some
quantitative as distinct from purely qualitative criteria may apply.
In this regard, we note with interest that the number of QCs
appointed in 2002 is markedly higher than in any other recent
year.'
The OFT's response to this consultation reflects and develops the views set out
in previous OFT reports.
2 The future of Queen's counsel October 2003
6. 2 OUR RESPONSE
Question 1
Do you consider it appropriate for the state to be awarding a promotional
rank in a profession? What are your reasons?
4 The historical origins of the title no longer correspond to its function. We
have questioned, therefore, whether it is right for government to have
responsibility for conferring on selected practitioners in a profession a
title that manifestly enhances their earning power and competitive
position relative to others. Whatever the intention of the award, there is
little doubt that many consumers of legal services are likely to see it as a
strong indicator that those selected will offer a higher quality service than
others.
5 Firstly, there may be market distortion as a result of the continued focus
of the government–run scheme on advocacy, largely to the exclusion of
other relevant skills. As markets for legal services are liberalised, those
who may be placed at a competitive disadvantage by the conferral of this
title by government, include not only junior counsel but also members of
other professions and in particular solicitors. This is because, in focussing
upon advocacy, the QC scheme tends to undervalue other skills that may
be relevant to meeting the needs of users of legal services in markets in
which the QC will subsequently compete (providing legal advice, case
management, negotiation and client care are examples). We consider it
significant in this regard that the Law Society has withdrawn from
participation in the appointment process. Market distortion may result
also where government confers legitimacy on a title that is arguably
misleading insofar as it suggests excellence in all or any area of
specialisation, whereas it is intended to denote only skill in advocacy.
The QC title may operate, therefore, to downplay the importance of
information as to specialisation, particularly where purchasers are not
solicitors.
6 Secondly, government's direct involvement in awarding a mark that
functions in a market where the state is active as a purchaser raises
important issues of independence. With regard to the Bar's continuing
The Office of Fair Trading 3
7. support for the government's involvement in conferring title, we
question whether this can be reconciled with the Bar's objective, often
referred to as paramount, of maintaining the fearless independence of its
members (see for example the Report of the Kentridge Committee
adopted by the Bar Council in 2002 in which the Bar seeks to justify
prohibitions on partnership and litigation on the basis that they are
necessary to guarantee the independence of barristers). Given that the
state is a major, if not the major purchaser of advocacy services, there
appears to us to be an evident tension between state involvement in the
conferral of title on advocates and the objective of advocate
independence.
Question 2
Do you consider that the public interest would suffer if the Government
were not directly responsible for the selection process for any quality
mark scheme? What are your reasons?
7 We argue above that by lending its authority to a potentially misleading
mark, government involvement may be both contributing to a distortion
of competition and providing at least a potential threat to advocate
independence. Both outcomes are likely to be contrary to the public
interest, and more particularly to that of users of legal services.
Elsewhere (see answer to 7), we argue that in its current form, the QC
system falls short of providing useful and objective information on quality
of services to users of legal services. We set out what we consider to be
the necessary hallmarks of a quality mark system if it is to be of value to
consumers: objective, transparent and relevant standards and continuing
quality appraisal to ensure that standards are maintained). A quality mark
scheme that met these conditions is likely to involve those responsible in
closer and continuing scrutiny and accreditation of advocates'
performance. Closer and continuing scrutiny by government is likely to
exacerbate concerns raised above about the implications of government
involvement for advocate independence. It is significant also that in other
professions where quality mark schemes operate, it is not usual (and
presumably not thought to be in the public interest) for government to
involve itself directly in making the award.
4 The future of Queen's counsel October 2003
8. Question 3
If you do not consider that the state should continue to be involved in the
award of QC, can a change to the current constitutional arrangements
which prevent The Queen from acting other than on the advice of
ministers be justified? What form should that change take (including
adequate measures for accountability to Parliament)? What are your
reasons?
8 We do not have a view on how constitutional arrangements could be
changed to allow the Queen to confer such an award on independent
rather than ministerial advice, but we doubt whether such a change will
address some of the significant concerns raised by the current system.
We understand the question to envisage continuing a two tier structure
for counsel established on the basis of a seniority title conferred by the
Queen on non-ministerial advice. Such a system, whether based on
ministerial advice or independent advice perpetuates the risk that
competition will be distorted between those who receive the award and
those who do not. Given that those who receive the award are likely
subsequently to compete in a number of different markets for example,
markets for advocacy and other legal services in which not all
practitioners are primarily advocates, it is difficult to envisage a scheme
of royal designation of advocates that would not distort competition. In
our view therefore, designation in its current form should cease. In our
answer to question 7 below we set out the circumstances and conditions
of any future system in order for it to provide information to consumers
of legal services that is useful and necessary.
Question 4
Can an arrangement under which the relevant minister makes
recommendations, having been guided by another body, be justified? To
what extent should the minister be bound to accept the advice of that
body? What form should that arrangement take (including adequate
measures for accountability to Parliament)? What are your reasons?
9 See response to question 3 above.
The Office of Fair Trading 5
9. Question 5
If you support the option in Question 4, as the Government will be
establishing a judicial appointments commission, should this be the
advising body? What are your reasons?
10 See response to question 3 above. Without prejudice to our view that the
designation in its current form should cease, we make the following
observation. The historical proximity between QC appointments and
judicial appointments (with the exception of Treasury juniors, barrister
High Court judges have invariably been silks) has led some, both suppliers
and purchasers (and solicitors may be both) to a perception that the
arguments advanced in court by those who have the QC title are more
likely to be favourably received by the judiciary than the equally strong
argument of junior counsel of a junior advocate. This may give rise to a
de facto demarcation between QCs and other advocates and one which
is based on misapprehension by those choosing a service provider. In its
response to the previous consultation from the Department of
Constitutional Affairs 'In The Public Interest?', published in 2002, the
Law Society notes that clients are sometimes anxious to have apparent
equality of arms, and so wish to appoint a QC if their opponent does so,
even if a junior advocate could deal with the matter perfectly well. Such
a de-facto demarcation runs counter to the consumer interest and
distorts competition between QCs and juniors. In our view, in order to
remove the perception among some consumers that they are necessarily
advantaged by choosing a QC, a separation of the judicial appointments
function from any scheme of recognition of quality in advocacy is likely
to be necessary.
Question 6
If it were to be decided that the rank of QC should be discontinued, do
you consider that the Government should have an ongoing role in
overseeing the framework of any new quality mark scheme that the Bar
Council and/or the Law Society (or any other body) might decide to
introduce? What are your reasons?
11 As the consultation document underlines, it is not unusual for
government to have a role in overseeing the framework of a quality mark
scheme for professionals. It is, by contrast, most unusual for government
6 The future of Queen's counsel October 2003
10. to have responsibility for conferring a title that manifestly enhances
earning power and competitive position in a market. In our view it is
critical that government should only confer legitimacy on a quality mark
scheme that genuinely assists consumers. The conditions that a scheme
should meet if it is to be genuinely useful are outlined in the response to
Question 7 below.
Question 7
Do you consider that the rank of QC in its current form benefits the
public? What are the reasons for your view?
12 We consider this the key question. The main public interest justification
advanced for the QC system has been that it serves as a quality mark. In
this answer, we question this justification on a number of fronts. Many of
our responses to other questions in this consultation refer back to the
arguments set out here.
13 We accept that quality marks can help markets work well for consumers
in some circumstances (A) and subject to conditions (B).
(A) Circumstances favouring a quality mark
14 The circumstances in which a quality mark will benefit consumers are
(i) where the mark assists ill-informed consumers to choose between
better and poorer quality suppliers; and
(ii) where the mark raises the overall quality of services by encouraging
excellence.
15 On point (i), we question whether the QC system operates in the
circumstances necessary for it to be of use to users of legal services.
16 We question firstly whether users of legal services are ill-informed. It is
worth noting that notwithstanding reforms in favour of clients having
access directly to barristers, the vast majority of those who instruct
counsel remain professional clients (solicitors) to whom the QC title is
likely to be very secondary, if significant at all, in assessing the quality of
a barrister (although there may be reasons divorced from quality
considerations that might make the title relevant – see response to
question 5 above).
The Office of Fair Trading 7
11. 17 Secondly, the availability of alternative sources of information on
barristers has blossomed in recent years. Publications, in particular, the
Chambers Guide and the Legal 500 have emerged to provide guidance by
subject areas to the top barristers in each major field. While total
accuracy and independence of such guides cannot be guaranteed in
every case, they have a clear advantage as an information source over
the QC title in that they are produced annually, indicate areas of
expertise and reflect continuing changes in barrister performance, in
contrast to the once and for all award of the QC title. We doubt that a
lay or professional client who was ignorant of the top barristers in a
particular legal field would choose a barrister by reference to their QC
status alone, without referring to such guides. The QC system adds little
if anything to that process. We have also witnessed in recent years a
dramatic growth in the number of chambers which produce
comprehensive brochures and – in many cases – have developed web
sites. This has increased the amount of information available to
consumers. In addition, more cases are now reported – either in general
or specialist law reports, many of which are available on the internet and
these are a ready source of up to date information on which barristers are
involved in cases in and have experience in the relevant area. The QC
title by contrast, is intended to denote skill in advocacy. However it may
be seen by some as indicating general expertise, across a range of skills
and areas of practice. If used by an instructing client without regard to
further information as to relevant skills and specialisation, the label is
thus apt to mislead rather than inform.
18 On point (ii), it is also open to question whether the mark raises overall
quality of service by encouraging excellence. On the one hand, as a one-
off award, it can clearly only fulfil this function until achieved, after
which the system provides no ongoing incentive for the pursuit of
excellence. Indeed, it could even encourage some QCs to rest on their
laurels. On the other, it also seems likely that any impetus towards
quality that the system provides is very inconsistent across the Bar and
varies greatly between barristers of one set of chambers and another. We
would question also whether this incentive is necessary given market
incentives and continuous professional development requirements. Where
markets reward excellence in other ways, there is unlikely to be a need
for a quality mark to encourage excellence.
8 The future of Queen's counsel October 2003
12. (B) Conditions for a quality mark
19 Key conditions that a mark must display if it is to benefit consumers by
making markets work better include:
(i) that the mark is awarded according to clear, relevant and objective
criteria in a transparent way that has particular regard to the
sophistication and experience of consumers;
(ii) that the mark can be lost as well as won and that quality of
performance is appraised on a continuing basis; and
(iii) that the mark does not distort competition.
We comment on these points in turn.
20. With regard to (i), the relevance and objectivity of the criteria that are
used appear particularly problematic. As has been argued previously, in
focussing upon advocacy, the QC scheme tends to undervalue other
skills that may be relevant to meeting clients needs in markets in which
the QC will subsequently compete (providing legal advice, case
management, negotiation, and client care are examples). It is particularly
difficult to argue that awards are made with particular regard to the
experience of purchasers in circumstances when the Law Society, which
represents the main body of purchasers, does not participate in the
consultation process and seeks an end to the system of designation.
Non-solicitor purchasers are likely to find the QC title, which focuses on
advocacy and says nothing as to subject specialisation, too generic to be
very useful. With regards to transparency, and notwithstanding a
number of reforms in recent years aimed at increasing transparency,
whether the QC system is sufficiently transparent remains controversial,
particularly in the context of the operation of the consultation process.
21 With regard to (ii), it is clear that the system does not meet that
condition. In making the QC award a once and for all award, its value to
users of legal services is significantly limited.
22 With regard to (iii), we remain concerned that the QC title may operate to
distort competition in a number of ways. One sign of this may be the
step-change in fees that QCs are said to command; we understand it to
be widespread practice across the Bar for newly appointed QCs or their
The Office of Fair Trading 9
13. clerks to increase their charge out rates overnight. Fixed rates for publicly
funded work are determined to a significant degree by whether the
advocate in question is a QC rather than to criteria such as experience
and quality. It has been suggested that fee differences between QCs and
juniors are the result of market forces alone and that rates for publicly
funded work simply reflect the market reality, which if true, is
acceptable. However, in the context of privately funded work, there is
some evidence to suggest that the practice of simply paying more for a
QC irrespective of quality is not only accepted as normal practice, but
also may be 'formalised' by judges when awarding costs.
23 Where courts are unwilling to compensate junior counsel to the same
extent as QCs when awarding costs (and the major work to which judges
have reference when deciding costs 'Greenslade on Costs' suggests that
a QC should generally receive a higher fee for comparable work) this
makes the services of a junior less valuable and those of a QC more
valuable, all else being equal, and would depress the fee juniors could
command and cause that commanded by QCs to rise. The size of the
effect would depend on the client's perceptions of the likelihood of being
awarded costs. The assumption that the QC is necessarily a better
barrister, created by the conferral of title, may thus be reinforced and
quantified by the judge awarding costs. Where judges place reliance on
title even though it may not be a useful guide to quality of service, there
is clearly a danger that users of legal services are being systematically
misinformed as to the value of services.
24 Another sign that competition may be distorted by the QC title is that
custom and practice has given rise to some de facto demarcations as to
what work is and is not suitable for QCs. This effective demarcation is
enforced by the perceptions of judges, solicitors and lay clients. For
example, as argued previously, a common belief is that it is necessary to
have a QC in certain courts - or to match the other side's 'big gun' with
one's own. It is also suggested that title and the accompanying privileges
such as position in court may lead a judge to listen to a QC's arguments
with greater respect.
25 Lastly on the issue of distortion, it has been suggested frequently that
the operation of the QC title displays, or at least has displayed, elements
of a quota system and that some quantitative as distinct from purely
qualitative criteria may apply. Any such quota would inevitably distort
competition.
10 The future of Queen's counsel October 2003
14. 26 In summary, given that on the one hand the circumstances in which the
QC system operates are not those in which a quality mark is likely greatly
to assist the public, and on the other that the key conditions for the
operation of any quality mark are either absent or subject to controversy,
there would seem to be a strong case that the designation should cease.
Question 8
In the light of the arguments set out in this section, do you think the
current system should be abolished or changed? What are the reasons for
your view?
27 See response to question 7 above. Given that on the one hand, the
circumstances in which the QC system operates are not those in which a
quality mark is likely to assist the public, and that on the other, the key
conditions for the operation of any quality mark are either absent or
subject to controversy, there would seem to be a strong case for
abolition, or at least for a change to the QC system that was sufficiently
radical and comprehensive to reflect the criteria set out in response to
question 7 above.
Question 9
Do you consider that the legal services market is sufficiently sophisticated
to allow solicitors to choose appropriate barristers without the need of
the QC mark? What are your reasons?
28 See response to question 7 above at paragraph 17 in particular.
Question 10
If the rank should continue, should it also continue to enjoy its traditional
formal privileges of dress, position and precedence?
29 We answer this question without prejudice to our response to 8 that the
title should be abolished or comprehensively and radically reformed. The
traditional formal privileges are likely to contribute to de facto
demarcations between QCs and other advocates that are based on rank
rather than quality. They are likely, therefore, to contribute to a distortion
in competition and they should, therefore, be ended.
The Office of Fair Trading 11
15. Question 11
If you consider that the QC rank should be abolished, do you consider
that it should be replaced by another form of quality mark (whether it be
granted by the state, the professions, an independent body or the
proposed Judicial Appointments Commission)? What are your reasons?
(see also the sections on state involvement and the key elements of a
quality mark)
30 The key issue from our perspective is that any system that replaces the
current system should meet the conditions and circumstances set out at
question 7 above. It seems clear to us that any quality mark system
replacing the QC system would therefore have to be very substantially
different in operation. Given our doubts about whether purchasers are ill-
informed we are not persuaded that another form of quality mark is
strictly necessary. If one were to be introduced we see significant
advantage in ensuring that the body responsible was separate from that
with responsibility for judicial appointments.
Question 12
What do you consider would be the impact (positive or negative) on
customers of legal services if the rank of QC were to be removed? Do
you consider there would be any increase or decrease in legal costs?
What are your reasons?
31 Abolition of the QC system is likely to lead to an increased focus by
users of legal services on quality and experience when selecting
advocates. The impact on legal costs is likely to depend on
circumstances but to the extent that additional costs are incurred under
the present system merely by the perceived need to engage a QC, the
effect of removing the rank of QC should be to reduce costs.
Question 13
What do you consider would be the impact on advocates' fees (QCs and
juniors) if the rank were to be removed?
32 If advocates generally are selected according to more rigorous criteria of
quality and experience, their fees should better reflect their abilities. This
12 The future of Queen's counsel October 2003
16. is likely to result in fee increases for some advocates and decreases for
others. Insofar as advocates' talents became better allocated to the
needs of users of their services, better value for money should result.
Question 14
For those clients who qualify to use the Bar Council's current Direct
Access scheme, what would be the impact (if any) of the removal of the
QC rank?
33 See response to question 12 above.
Question 15
What changes, or other kind of scheme, might better help non-specialist
solicitors or non-lawyers to choose the right advocate for their case?
34 Much information needed to help non-specialist solicitors and non-
lawyers choose the right advocate is already available (see answers to
questions 7 and 9). At present non-lawyers, in particular, might not be
aware of this information, but we think it likely that the process of
competition, if freed from the distortions of the QC system, would
naturally lead to such information becoming more widely known.
Question 16
If a different approach had to be taken in matters where QCs are
currently regularly used, what ways would you suggest for identifying
practitioners with a suitable level of expertise or case-management skills,
and what sources of information would you use?
35 See responses to questions 7 and 9 above.
Question 17
What other implications do you consider there would be, positive or
negative, including on price, for the legal services market if the rank of
QC were to be removed?
36 See responses to questions 12 and 13 above.
The Office of Fair Trading 13
17. Question 18
What measures are needed to deal with circumstances where the use of
a QC has been stipulated as a contractual condition?
37 If the rank of QC were abolished then contracts which stipulated the use
of a QC would have to be amended to refer to criteria that focus on
quality and experience. To achieve this, one solution might be may be to
introduce legislation to the effect that any previous legislation or
contracts...etc referring to QC should be read as (for example) 'barrister
with suitable expertise and experience'.
Question 19
If the Government decided that it was no longer appropriate for the state
to provide a guide to the quality of advocacy services through
appointment by The Queen to a rank, which of the options given for
transitional arrangements, referred to in paragraphs 68 to 71, (if any)
should be preferred, and why?
38 Allowing existing title holders to continue to benefit from the title in the
absence of potential competition from new appointments may result in an
even greater distortion to competition than that we believe currently may
result from the system. We therefore support option 1.
Question 20
If you do not support these options, what other approach would you
suggest and why?
39 Not applicable.
Question 21
Should the quality mark be granted only after, for example, examination,
or interview? Why?
40 If a quality mark is deemed necessary it should meet the conditions set
out in our answer to question 7. In particular it should be awarded on
clear, relevant and objective criteria in a transparent way that has
particular regard to the experience of purchasers. Examination or
14 The future of Queen's counsel October 2003
18. interview might be elements of the assessment of this condition but there
could well be others.
Question 22
Should it include regular re-appraisal or re-accreditation? How might this
be achieved?
41 Regular reappraisal or re-accreditation is a key condition of any quality
mark that is of benefit to the users of legal services
Question 23
Should it include appeals and complaints mechanisms? How would you
envisage them working?
42 An appeals mechanism against non-award of the mark is probably
desirable. If a quality mark were to be awarded that met the conditions
set out at question 7 above, this would assist in creating the pre-
conditions for a meaningful appeal. Once a mark was awarded, a system
for dealing with complaints that the quality of the service to which the
mark attests has not been met is essential. We envisage that it would be
an extension of the existing complaints mechanisms run by the Bar
Council and Law Society (whether one or both of them should be
involved would depend on whether the quality mark covered solicitors as
well as barristers).
Question 24
Do you think some new form of quality mark is desirable? By whom
should it be run, and how? What would be the impact on the market for
legal services?
43 In our view and as set out at question 7 above, a quality mark is
desirable only in some circumstances and subject to certain conditions.
We do not believe that these conditions are met by the current system.
We do not believe that a quality mark is needed. If one is advanced, it
should necessarily meet the conditions discussed above.
The Office of Fair Trading 15
19. Question 25
If some form of quality mark is necessary, should it continue to focus
primarily on advocacy?
44 As has been argued previously, in focussing upon advocacy, the QC
scheme tends to undervalue other skills that may be relevant to meeting
clients needs in markets in which the QC will subsequently compete
(providing legal advice, case management, negotiation, and client care
are examples). If a quality mark were to focus primarily on advocacy it
would be essential to make sure that this was absolutely clear to users of
legal services. Those who needed another service, for example legal
advice, would need to understand that the advocacy quality mark had no
necessary relevance to them. Subject to this and to conditions set out at
question 7, other relevant skills might equally be the subject of a quality
mark. Whatever is the focus, it would be essential to make sure that the
scope and nature of the quality mark was made absolutely clear to users
of legal services.
Question 26
If you consider that any criteria should reflect a broader range of skills
and experience, how do you think this might be achieved? What other
skills do you consider should be recognised and tested?
45 We have no views on this question.
Question 27
If you consider that the criteria should focus on advocacy, should there
also be a parallel mark for solicitors and barristers who undertake the
many other types of legal work (including the issuing of proceedings, the
preparation of instructions for advocates, and many matters which do not
usually involve the court, such as conveyancing)? What differences would
you envisage there being between the two schemes?
46 We have no views on this question.
16 The future of Queen's counsel October 2003
20. ANNEXES
A EXTRACT FROM THE OFT'S REPORT 'COMPETITION IN
PROFESSIONS', PUBLISHED MARCH 2001
QC system
45 It is right to recognise first that some of the old restrictions surrounding
the conduct of QCs have been removed some time ago. For example, it
is now no longer obligatory for a QC to be supported by a junior barrister.
However, other restrictions both in rules and in custom and practice
relating to this distinction persist, and have significant effects on
competition. The Lord Chancellor, in 1999, commissioned a report from
Sir Leonard Peach on the selection of QCs, which in general found that
the selection of QCs was made after appropriate consideration. The
report nonetheless made a number of recommendations, the
implementation of which has resulted in improved transparency and
objectivity in the selection process. New features of the process include
the opportunity for unsuccessful applicants to receive feedback on their
applications, safeguards against discrimination, and provision for the
process to be scrutinised by the Commissioner for Judicial Appointments.
46 That report did not however address the fundamental issue of whether,
given that the historical origins of the title no longer correspond to its
function, it was right for the Government to have responsibility for
conferring on selected practitioners in a profession a title that manifestly
enhances their earning power and competitive position relative to others.
There remain concerns also that there is no continuous quality appraisal
to ensure that the quality mark of QC remains justified, that there is no
peer review on selection and that there are no professional examinations
that must be taken in order to become a QC (although this latter point
was a recommendation of the Peach report). In any event, even if it
could be shown that such an appointment system were transparent,
objective and non-discriminatory, and operated as a genuine quality mark,
it is difficult to understand the client's need for a quality mark where
The Office of Fair Trading 17
21. restrictions upon direct access by clients to barristers remain in place and
barristers' services are consequently purchased by solicitors who are
specialists. Given these considerations, it is questionable what the value
of the system is to consumers.
18 The future of Queen's counsel October 2003
22. B EXTRACT FROM THE REPORT BY CONSULTANTS LECG,
PUBLISHED ALONGSIDE THE OFT'S REPORT 'COMPETITION
IN PROFESSIONS', MARCH 2001
Demarcation within the barristers' profession: QCs and the Junior Bar
270 Originally Queen's Counsel (QC) were retained for royal work (QCs are
appointed by the Queen on the advice of the Lord Chancellor), but the
appointment is now described as 'a mark of eminence'. Juniors who wish
to become QCs can apply to the Lord Chancellor's Department, and it is
now open to employed barristers and solicitors to do the same. By 1999,
four solicitors had been appointed QCs. Becoming a QC has also been the
traditional pathway to the judiciary.
271 There is no formal reservation of any service to QCs. As the result of
long-standing perceptions, however, the QC system results in an
effective demarcation between the Senior Bar (QCs) and the Junior Bar in
certain areas of work. For example, QCs do not normally do paperwork
but concentrate almost entirely on advocacy. (According to paragraph
605 of the Code of Conduct, a QC in independent practice does not have
to accept instructions to settle alone any document of a kind generally
settled only by or in conjunction with a junior). Originally this demarcation
was more rigidly enforced: there were rules of etiquette, for example,
preventing a QC appearing in court without a junior ('double manning'),
and entitling a junior to two-thirds of the QC fee. These rules were
abolished, respectively, in 1977 following a Monopolies and Mergers
Commission report (see Annex B) and in 1966 - although it is alleged that
convention still means that QCs generally do not appear alone in court.
272 Arguments in favour of the QC system are that it is in the public interest
to have a recognised elite of specialists, and that the QC badge acts as a
qualitymark. Furthermore, the Bar Council maintains that a QC's
exemption from the cab-rank rule (see paragraph 284 below) in paragraph
605 of the Code allows QCs to specialise in advocacy without being
bogged down in paperwork. Defenders of the system deny that double
manning is the norm and argue that the appearance of two barristers
reflects case loads and a sensible division of labour. There are a number
of objective criticisms that can be made of the current QC system: the
The Office of Fair Trading 19
23. effective demarcation of certain services may distort competition
between barristers and others (such as solicitor-advocates), and it may
not operate as a reliable quality mark.
273 As noted earlier, the QC system leads to the effective reservation of
certain types of work to QCs only (despite the removal of formal
demarcation restrictions). This effective demarcation is enforced by the
perceptions of judges, solicitors and lay clients. For example, a common
belief is that it is necessary to have a QC in certain courts - or to match
the other side's 'big gun' with one's own. It is also suggested that a
judge will listen to a QC's arguments with greater respect (for a
discussion of the attitude to judges to advocates in general, see Chapter
IV, paragraphs 173 to 175).
274 One sign that competition may be distorted is the step-change in fees
that QCs are said to command following appointment (even though they
are no more experienced than just before appointment). The precise
extent of the difference was not made known to us, but we were told
that it is substantial. It should also be noted that not all QCs are able to
sustain these higher fee levels. This may be because potential clients do
not consider some QCs to be of sufficient quality to justify the fees
charged. Although the higher fees that QCs charge may simply reflect
superior experience or quality, they may also be indicative of some form
of quota. This quota may act as a barrier to entry to the Senior Bar and
allow the incumbent QCs to charge fees higher than they would
command in a more competitive market.
275 Numbers of QCs are not determined by the market but by the Lord
Chancellor. In practice, they are limited to about 10% of the profession
(see Figure 15 above). Although there is no official quota, the
appointments system has some features that might indicate an unofficial
quota. An appendix to the Kalisher Report (1994), attached at Annex E,
provides some anecdotal evidence of an unofficial quota in operation a
few years ago. If the QC system was truly a reflection only of quality,
and quality standards were being maintained through the training system,
one might expect the level of new QC awards to have risen roughly in
proportion to the increase in the number of barristers in total. In fact,
they have stayed fairly constant year on year (see Figure 14), at a level
sufficient to maintain the number of QCs as a proportion of all barristers
20 The future of Queen's counsel October 2003
24. at roughly the 10% mark (see Figure 15). We think this might suggest
some disguised quota arrangement.
276 Even if there is no quota in operation (and we do not have sufficient
information to establish with certainty whether there is or is not), the
appointments system (despite recent reform following the Peach report)
does not appear to operate as a genuine quality mark. The system is
secretive and, so far as we can tell, lacks objective standards. It also
lacks some of the key features of a recognised accreditation system,
such as examinations, peer review, fixed term appointments and quality
appraisal to ensure that the quality mark remains justified. We were told
that many solicitors and some barristers criticise the lack of objectivity of
the system.
277 For other professional services it is has not proved necessary for the
Government to intervene to distinguish the most expert practitioners. The
profession itself should be capable of assessing, awarding and monitoring
badges of quality without government intervention4. Even in the absence
of a quality mark, however, the evidence we have suggests that the
market would be able to make informed choices without the aid of an
accreditation scheme. Clients for advocacy services are usually very well
informed as to the past performance and reputation of barristers (and
other advocates) operating in their field. As a result, and because the
pool of barristers is relatively small, particularly in specialist areas, they
are normally capable of identifying and selecting the most appropriate
provider without the aid of an accreditation scheme. Even with the
current prohibition on direct access to clients by barristers, client
awareness of service quality is likely to be high in the kinds of cases
where top quality advocacy services are required.
278 In our view, therefore, the existing QC system does not operate as a
genuine quality accreditation scheme. It thus distorts competition among
junior and senior barristers. Our evidence indicates that clients do not
generally need the assistance of a quality mark, but if there is to be such
a scheme, it should be administered by the profession itself on
transparent and objective grounds. Furthermore, there is some evidence
that an informal quota is in operation within the current QC appointment
4
Particularly as many of the other restrictions imposed on the profession are justified on
grounds that they visibly maintain independence from government. (See, for example, the
prohibition on partnerships between barristers and the cab rank rule discussed below).
The Office of Fair Trading 21
25. system, and that it appears to have the effect of raising fees charged to
litigation clients.
279 We do not think that a mark of quality or experience is necessarily anti-
competitive, so long as the award is governed by transparent and
objective criteria, and restrictions are based on qualitative, rather than
quantitative, factors. On the evidence available to us, however, the
current system does not pass these tests.
22 The future of Queen's counsel October 2003