Don’t hold your breath.
That’s one way to summarize the National Law Journal’s summary of the U.S. Chamber of Commerce’s long-term plan to try to rein-in litigation funding via a change to the Federal Rules of Civil Procedure.
The piece, entitled Lit Funding Opponents Play Long Game in Bid for Transparency, points out that the federal rules change process is designed to take more than two years – at least.
The article is available in full here. Another recent Secondary Insurance Market Blog post on the U.S. Chamber of Commerce’s support for the federal rule change (A Primer on Champerty and Lawsuit Funding – and Impact on Insurers – Is Part of Report on U.S. Chamber’s Support for Federal Rule Change) is available here.