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Top foreign law firms to come under review: Says Law Minister

A review of the performances made by the leading 6 foreign law firms is going to be held. These foreign law firms are ones practicing as well as promoting the using of the law of Singapore as under the Qualifying Foreign Law Practices (QFLP) program in the latter half of 2011, according to the Law Minister K. Shanmugam.

The law minister further said that the firms have increased their staff member numbers by more than 200 lawyers. Also, around two thirds of them got recruited from overseas. Over 50 per cent of these staff members were transfers made from the QFLPs' overseas offices.

Additional leading legal brains rushing to India, additional revenues from higher caseloads of offshore work as well as the Republic's fast paced increase as an arbitration destination have together made the legal services department here more powerful.

While updating the Committee of Supply regarding the manner in which the liberalisation efforts have brought in benefits for Singapore, the Law Minister K Shanmugam mentioned that the Law Ministry is going to do a review of the performance of the 6 Qualifying Foreign Law Practices (QFLP) in the latter half of 2011, having in mind the motive of further liberalisation.