Members of the Cayman Islands Law Society (CILS) have declared their support of the long-awaited Legal Practitioners Bill (LPB), which is due in front of the LA in a matter of days.
So far, nineteen Cayman Island law firms, representing over 80% of the members of CILS, have come together to voice their support of the LPB for the future of the legal industry in Cayman.
CILS President Alasdair Robertson said: “The LPB is simply a modernisation of the current law that regulates the legal profession. It would replace the outdated provisions of the LPB of 1969, passed when there were only 30 practising lawyers on the island. Today, there are over 600 lawyers and our laws must be updated to reflect this evolution to keep up with global industry standards and for the next generation of lawyers. It is important that we put in place the foundations to allow the profession to continue to grow for future generations.
“This long overdue modernisation is important for the profession, the jurisdiction and the ultimate users of legal services, as well as being an integral part of the financial services industry and the economy of the Cayman Islands.
“With over 240 Caymanian attorneys on the roll and over 50 trainee lawyers trained by the profession over the last 3 years, we support the requirements of the LPB to put in place best practice guidelines. These guidelines will enshrine practices developed by the leading law firms to recruit, promote and advance Caymanian lawyers within the profession.
“So far, Cayman law firms have given 46 Caymanian lawyers, including 4 articled clerks, the opportunity to work abroad and with this new framework, I can see that increasing. It will also create opportunities for Caymanian lawyers to be admitted in England, therefore, increasing their opportunities to work in a global legal industry.”
Should the LPB pass, it will be headed up by a newly formed regulatory body, the Cayman Islands Law Practitioners Association (CILPA), which will represent the entire profession. The CILPA council will be elected, with a minimum of five Caymanians sitting on the council at all times.
To find out more about the LPB, please click visit www.caymanlawsociety.org
