Legal regulators from around the world have agreed to create an information-sharing network – the first step towards the formation of a global regulators’ organisation.
The decision was made at the first international conference of legal regulators, which was recently hosted in London by the Solicitors Regulation Authority and was attended by representatives of a number of national regulatory bodies, including the US, Canada, Ireland, Australia, Hong Kong and several African and Asian countries.
At the conference, attendees unanimously agreed to create an information-sharing network, which would provide them with a valuable source of support and information.
To begin with, it is envisaged that the network will encompass basic information on the regulated communities, disciplinary referrals involving specific cases, and provide a discussion forum to share ideas, ask questions, increase learning and look at ways to improve regulation.
It remains to be seen how effective this network will become, but, due to the diverse nature of regulation, where one national regulator can differ quite considerably from one in another country, an international network may increase cross-border co-operation.
The next international conference of legal regulators is likely to take place in San Francisco, in August 2013.