Ebb and flow

Washington politicos are tussling over how far federal prosecutors can go in getting companies to waive the attorney-client and work product privileges as part of criminal investigations. For now, it would appear in-house lawyers have momentum on their side as the DOJ increasingly finds itself isolated on this point.
Meanwhile, the Securities and Exchange Commission is proposing to ease some of the costs and burden of auditing requirements under Sarbanes-Oxley – essentially moving in the direction of prioritizing controls and away from a focus on hyper-minutiae.
Compliance is certainly a major component in the work lives of in-house attorneys these days, and these developments, which we cover in this issue of New England In-House (page 1), are certainly welcomed by corporate counsel.
Perhaps it’s only natural that some of the laws and regulations that came into being in the wake of the many financial scandals of recent years would undergo some revamping as real-world experiences with them filter in from around the country.
While some easing can be expected, the clamps may be coming down in a different direction: Executive pay and stock options backdating.
High-level executives of public companies are now required to disclose their compensation packages, which can make for some internal tension as ex-CEO Robert Nardelli of Home Depot recently found out. And the stock options backdating problem promises to get worse before it runs its course.
Alas, the ebb and flow of the compliance pressures facing in-house counsel.
Speaking of pressure, the burdens and challenges of e-discovery continue to mount around the country. In the latest installment of The Upper Hand (page 6), a veteran litigator from Verizon, Richard P. Owens, shares tips on how to master producing electronically stored information in litigation.
We started New England In-House in April 2003 to provide in-house lawyers in this region the necessary information they need to be better lawyers. So far, so good. We strive to be a useful tool in your legal practice, and I’m happy to announce that this year we’re expanding to six issues a year. I look forward to continue working with the in-house legal community.
As always, feel free to contact me with any story ideas, suggestions or comments. You can reach me at (617) 218-8141, or [email protected].