Scene set for the parliamentary inquiry into litigation funding and class action regulation

In brief - Organisations and individuals can make a submission related to the inquiry's Terms of Reference by 11 June 2020

On 13 May 2020, the House of Representatives referred an inquiry into litigation funding and the regulation of the class action industry in Australia to the Parliamentary Joint Committee on Corporations and Financial Services.

This inquiry has been anticipated since the release of the Australian Law Reform Commission's (ALRC) Report 134 in late 2018 that made 24 recommendations "designed to promote fairness and efficiency in class action proceedings, protect litigants and assure the integrity of the civil justice system".

Ultimately the final report will make recommendations to Parliament that are expected to form the basis for legislative and regulatory reforms to the industry as a whole, which will be particularly timely in light of the large number of class actions predicted to arise as a result of COVID-19.