News / General

MDPs

By SLAS Spokesperson

These are still under review in the light of recent developments such as the Resolution passed at the recent IBA conference to the effect that there should be rigorous regulation of MDPs if allowed, to ensure that risks relating to conflict of interests, confidentiality and independence were eliminated. This constitutes a climb down, as the original Resolution was to continue a complete ban on them. Meantime negotiations between the "Big Five" accountants Arthur Anderson and the Dutch bar over a deal for MDPs in the Netherlands are close to collapse according to reports.

The Law Society of England and Wales has issued a Consultation paper and has suggested six different ways in which MDPs might be established, subject to safeguards for professional practice issues.


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