In an eye-opening turn of events, recent findings revealed that a significant percentage of in-house counsel are seemingly dissatisfied in their roles. According to a recently released survey, a majority of these professionals expressed their discontent, with two-thirds of participants indicating that they were either seeking or were receptive to new job opportunities. Within the…
The Biden administration has recently imposed further restrictions on the sale of advanced semiconductors from American firms to Chinese companies, hoping to slow China’s progress in developing AI technologies. This news was reported by the New York Times. This decision, however, is expected to have minimal financial impact on operations of top chip producers such…
The Securities and Exchange Commission (SEC) has recently implemented revisions to the rules governing beneficial ownership reporting under Section 13(d) and 13(g) of the Securities Exchange Act of 1934. The modifications indicate a tightened regulation from the SEC, which arguably adds another layer of transparency for investors and companies involved. The revisions are significant to…
In today’s legal news, non-attorney Stephen Miller continues to make waves, suing NYU Law Review for alleged discrimination against white men [Bloomberg Law News]. In corporate corruption news, a former facilities manager at Cleary faces jail for sending false invoices that went up to around a million dollars [Roll on Friday]. As the cryptocurrency space…
Marc Schoenfeld, an attorney with an expansive 30-year career at Madison Square Garden’s parent company, has made a significant career transition and become the senior legal counsel for Saudi Arabia-backed LIV Golf. Schoenfeld represents the first US-based in-house lawyer for LIV, a golf group that had previously assembled its legal team in London under the…
The United States Senate has recently confirmed Karla Gilbride as the new General Counsel for the Equal Employment Opportunity Commission (EEOC), filling a role that remained vacant for roughly two and a half years. This confirmation comes during a period where new case filings are on the rise. As reported by JD Supra, Karla Gilbride…
Decentralizing legal departments and embedding lawyers directly into various business units remains a topic of debate among general counsels, according to Axiom’s survey. This notion of embedding lawyers is being pushed by business leaders, CEOs, and others, with the intention of increasing the alignment between the business desires and the legal guidelines. The results suggest…
In a startling revelation that has rocked the legal fraternity, it has surfaced that FTX, prior to its downfall, falsely assured customers of the safety of their funds should insolvency befall them, according to reports by Bloomberg Law. The information comes via Can Sun, who served as a general counsel for FTX starting from August…
According to a recent Associated Press analysis of Federal Election Commission records, the political fundraising machine led by former President Donald Trump may be in breach of US campaign finance regulations. The operation is said to have used donor money to pay nearly $37 million to more than 60 law firms and individual lawyers since…
The Federal Communications Commission is currently poised to reinstate its net neutrality rules, which could see broadband reclassified as a telecommunications service. Proposed rules would prevent broadband providers from controlling or throttling internet traffic. These propositions are almost exact replicas of those the US Court of Appeals for the D.C. Circuit upheld in 2016. In…
The colliding worlds of Mergers and Acquisitions (M&A) and corporate compliance have entered a new era. The U.S. Department of Justice (DOJ) is offering greater leniency to companies that voluntarily self-disclose misconduct identified within a company being acquired. Until recently, the general counsel and M&A advisors prudently treated compliance with a careful degree of caution….
The increasing threat of cyber-attacks and data breaches is causing a shift in priorities for many large corporations and law firms, inciting worry amongst chief legal officers and general counsels. The drastic rise of these threats is becoming a common concern even for those who don’t directly supervise their company’s security measures. Notably, a survey…
The US Senate has confirmed Karla Gilbride as the Equal Employment Opportunity Commission’s (EEOC) new general counsel, a position that had been vacant for over two years. A civil rights litigator, Gilbride was approved on a 50-46 vote last Tuesday. As the EEOC’s general counsel, Gilbride will spearhead the agency’s litigation efforts, representing workers alleging…
As law firms and legal operations navigate an ever-changing landscape, one organization, the Legal Innovators Network (LINK) is taking a unique, concentrated approach. While large-scale events like the CLOC Global Institute encompass vast event centers on the Las Vegas Strip, LINK is embracing a contrastingly smaller structure. LINK has been facilitating intimate, invite-only assemblies of…
Strive Asset Management, the investment firm co-founded by Republican presidential candidate Vivek Ramaswamy, has recently appointed former Treasury Department lawyer Alexandra Gaiser as its new General Counsel. Bloomberg Law reports that Gaiser previously worked on regulatory affairs at the bitcoin-focused fintech startup River Financial Inc, and held a variety of roles under former Treasury Secretary…
Prominent law firms are refusing to back down in the face of potential litigation concerning their diversity initiatives. Last week, conservative legal activist Edward Blum, head of the American Alliance for Equal Rights, directed a series of inquiries at Winston & Strawn, Hunton Andrews & Kurth, and Adams and Reese. These questions centered on the…
Corporate compliance is a significant aspect of corporate governance that has garnered attention in the last few decades, especially among global corporations and law professionals. Establishing a consistent and effective compliance program can be a challenging task, and it helps to understand that your compliance program, inadvertently, creates a brand within your organization. According to…
Publicly traded companies are now obligated to adjust their cybersecurity measures, responding to a recent update on financial sector regulations. This shift has positioned general counsels into a significant role in addressing data breaches and other cyberattacks. As stipulated by a final rule of the Securities and Exchange Commission (SEC) in September, businesses must report…
Winston & Strawn, a global law firm, has affirmed their decision to continue with their diversity fellowship program. This decision is made despite the threat of a pending lawsuit by Edward Blum’s American Alliance for Equal Rights, a known adversary of affirmative action. “Our program is appropriate, legal and compliant and it will continue,” states…
In an era described as possessing a climate of “hyper-aggressive enforcement”, companies are being advised to adopt proactive measures and offer high responsiveness to investigators, as a strategy to manage increasing regulatory risks. This advice was given during a recent panel at ALM Global’s General Counsel East in New York City. ALM Global reports. The…
As Rite Aid nears bankruptcy, fresh legal challenges emerge under the stewardship of Thomas Sabatino Jr., the company’s newly appointed general counsel. Sabatino, who took on his position in June, faces numerous obstacles including the daunting task of resolving extensive opioid litigation that has entangled the company. Thomas Sabatino Jr.’s role as a general counsel…
The legal profession is at an interesting intersection; the traditional values that govern the sector and the increasingly indispensable role of technology. As observed in this insightful Bloomberg Law op-ed by Elizabeth Lugones, an experienced COO and senior advisor at UpLevel Ops, legal professionals are tasked with navigating this convergence to remain effective in their…
Hiring a lawyer can often be a financial drain for those who seek their services. Meanwhile, newcomers to the profession face a series of hurdles that serve more to protect the lawyers from competition rather than the public from questionable legal assistance. However, there are potential solutions: considerate reforms that can bolster both the competition…
In the legal field, innovation is a buzzword that resonates through firms, departments, and sectors. This trait, often characterized by new inventions, refreshed perspectives, and revisions of traditional practices, is gradually becoming an integral part of our legal mechanics. However, beyond the context of work tools and methodologies, legal innovation is primarily a human-centered approach,…
In the evolving landscape of law firm operations, the role of the general counsel (GC) has expanded from part-time legal consultation to a full-time ‘Risk Avoidance Monitor’. This shift in responsibility has been highlighted by William Connolly, who recently assumed the role of Chief Legal Officer and General Counsel at Nixon Peabody. In his position,…