The EU is gearing up to regulate the third-party litigation funding market following an EU parliamentary vote in favour of the resolution.
The regulations are intended to increase transparency, fairness and proportionality in the market, which until now has escaped formal regulation. Among the proposals is a 40% cap on the percentage of a court award or settlement that funders can claim, requirement for disclosure of third-party financing and for court awards to be sent directly to claimants.
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