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As the article infra, page 1, discusses, attorneys who practice product liability law are not beyond the reach of the Sarbanes-Oxley Act. For a complete description of the SEC's proposed rules regarding the standards of professional conduct for attorneys appearing before the SEC, go to www.sec.gov/rules/proposed/31-8186. The site summarizes the rules proposed pursuant to Section 307 of the Sarbanes-Oxley Act of 2002, which requires the SEC (Commission) to prescribe minimum standards of professional conduct for attorneys appearing and practicing before the Commission in any way in the representation of issuers.
The Commission explained that the actions of some attorneys have drawn increasing scrutiny and criticism in light of recent events, demonstrating that at least “some lawyers have forgotten their responsibility.” It noted that existing state ethical rules did not seem to be an effective deterrent to attorney misconduct. The July 16, 2002, Preliminary Report of the American Bar Association Task Force on Corporate Responsibility (the “Cheek Report”) concluded that “the system of corporate governance at many public companies has failed dramatically” and acknowledges that attorneys representing and advising corporate clients bear some share of the blame for this failure.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.