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No doubt Mr Philip would say that, as a regulator, it's not about winning or losing but about taking part.

Sadly, whatever he says about this matter is no longer credible. He made a presentation to the SRA board about the Leigh Day prosecution, so it was not "just another case". The appeal to the Divisional Court was no more than a huge, expensive moan about the SDT's refusal to agree with the SRA.

If Mr Philip wants to try to regain some credibility, he can now tell us how much the prosecution and appeal cost. And I mean the real figure, not the comical £1.5million figure mentioned in this article.