The UK’s leading litigation funders have taken further steps to improve their PR and attack head on suggestions that they lack transparency by introducing a new complaints procedure and capital requirements, which could see funders given public warnings or struck off their voluntary quasi-regulatory body.
The Association of Litigation Funders’ (ALF’s) new procedure, which came into effect in January, will see complaints give rise to an initial investigation by the body’s general counsel, and referred to an independent legal counsel who must be a litigation partner or a Queen’s Counsel.
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