Des Hudson
Plenary 2: Regulation, management
and liberalisation
Des Hudson, Chief Executive,
The Law Society
  Think about...
    ....how you do & will generate clients
    ....and do it on a sustained basis?
    ....a model for high street practitioners (possible)
  Regulator should be
    ...robust
      When will we see benefit from OFR?
      He thinks there is a "compliant majority"
      But there are "bad apples" as well
    ...effective (address market failures)
    ....proportionate
      The current burden is not proportionate
      It's impacting negatively on the profession
  Management - adapting to survive
    Survival is not compulsory
    Large new entrants
    Existing firms link with other service providers
    Firms are seeking external investment
    Firm promoting non-lawyers to partnership
    Firms on the Stock Exchange
    Claims management firms
  Vision of consumers being best server by
competition between diverse providers
within a well regulated market place
  Online conflict resolution
    ebay resolves 60m disputers per year
    Using an online tool
    No lawyers are involved ANYWHERE!
  Change is coming
    Significant change
    It will not be as John Major said
    Service, service, service should be
where a law firm should focus its energy
  The Opticians Market
    1985
      3,500 independent optical outlets
      Small businesses, owned by an optician/partnership
      65% by revenue of the market
      2,500 outlets part of small chains
      D&A had 405 outlets
    2013
      Large national retailers cover 70% of the market
      3,790 independent optical outlets
      Local, premium pricing
      Independent market share is now 27.5% of the market
      Income of an optician is now reduced by 40%
      More people employed in the sector than in 1985