Law firms pressed over financial transparency

Minister calls for law firms to improve disclosure and not 'cocoon themselves' from the world

Written by Nicholas Neveling

Bridget Prentice, legal services minister, has said it is in lawyers' interests to become more open about the way they operate and backed calls to improve transparency.

Prentice's calls follow similar comments from Guy Beringer, senior partner of Allen & Overy, who said that minimal financial details released by many firms detached them from a world in which business had to show it was acting officially.

In an interview with the FT Prentice, Beringer's comments marked a postive contribution to the debate on law firms' role in public life.

'I think it is not in lawyers' interests to cocoon themselves outside as if they are separate from the rest of society.

Further reading:

Read more about Guy Beringer

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