Professor Joan Loughrey
Professor of Law
I graduated from Somerville College, University of Oxford, with a degree in Jurisprudence. I then qualified as a solicitor in England and Wales and Hong Kong, practising as a commercial litigator before entering academia. I have lectured in Australia as well as in the UK.
I am the Deputy Head of School and a member of the Centre for Business Law and Practice.
I am also on the Managing Group of the Professional Services Sector Hub.
My published work includes a book on the corporate governance role of corporate lawyers, described as ‘a thoroughly enjoyable and stimulating text, addressing a topic of huge importance that deserves close reading by both practitioners and legal educators.’ (Riley, Journal of Business Law, 2013), contributions to edited collections and peer reviewed articles.
My interests are in corporate governance and company law, regulation of the legal profession, the law regulating lawyers (especially conflicts of interest and legal professional privilege) and the regulation of conduct in financial services.
At undergraduate level, I teach Company Law and at postgraduate level, I teach Corporate Law.
I am willing to supervise PhD students in the areas of:
- corporate governance
- corporate law
- regulation of the legal profession and of conduct in financial services
- legal professional privilege
Directors' Duties and Shareholder Litigation in the Wake of the Financial Crisis, ed. by Loughrey J, Corporations, Globalisation and the Law series (Edward Elgar, 2012)
The financial crisis revealed failings at board level at many financial institutions. But despite calls for bank boards to be held to account, there has been a remarkable paucity of litigation against bank directors for breach of their duties to their institutions. This book assesses whether the law relating to directors’ duties and shareholder litigation has contributed to this, taking into account the changes to both that were introduced by the Companies Act 2006.
Corporate Lawyers and Corporate Governance (Cambridge Univ Pr, 2011),
‘Accountability and the Regulation of the Large Law Firm Lawyer’, Modern Law Review, 77.5 (2014), 732-762,
The regulation of solicitors in England and Wales has undergone great change in the wake of the Legal Services Act 2007. This article considers these regulatory developments through the lens of accountability, focussing on the regulation of transactional lawyers and the large commercial firms. It examines to what extent the Solicitors Regulation Authority's regulatory framework promotes accountability, examining entity regulation, outcomes-focussed and principles-based regulation, reporting and disclosure obligations, the Compliance Officer for Legal Practice and the sanctions system. It argues that although transactional lawyers cannot claim the benefit of the ethical principle of non-accountability, as far as they and their firms are concerned, the regulatory framework is both unnecessary and insufficient. It duplicates the function of accountability to the client and fails to hold transactional lawyers to account for significant regulatory risks that they present, such as the practice of creative compliance.
‘Breaching the Accountability Firewall: Market Norms and the Reasonable Director’, Seattle University Law Review, 37.3 (2014), 134-154,
‘The Regulation of Self-interest in Financial Markets’, in Integrity, Risk and Accountability in Capital Markets, ed. by O'Brien J and Gilligan G (Hart Publishing, 2013), 65-90,