Amit Arora

Review of Wallace LLP

I recently had the misfortune of having to try to ...

I recently had the misfortune of having to try to negotiate an IT contract with Wallace LLP. They had been engaged by my service provider to review contract amendments that I had proposed for compliance with certain regulatory requirements. The lawyer from Wallace that attended the meeting was ill prepared, clearly hadn't understood his brief, hadn't even read the documentation and persistently wanted to 'move on' without closing points down. However, the most astonishing thing of all was that this lawyer knew nothing about Solvency II regulations or FCA Material Outsource rules. The entire session was spent with my lawyer educating them on what the regulations were and how they correlated to the amendments proposed. I'm unsure how any lawyer who professes to specialise in commercial law (particularly in the IT space) can be of any use to regulated entities if they themselves aren't clued up on regulatory requirements and that too a partner!