Wednesday, April 27, 2011

Risk Roundup: Conflicts, Professional Rules + Other News

Several interesting links, stories and updates to share:
  • Risk Roundtable Webinar Report: Many thanks to panelists at last week’s risk webinar. We welcomed 100 attendees who signed on to hear speakers from Kirkland & Ellis (Ann Ostrander), Reed Smith (Ed Witt) and Katten Muchin (Patty Fitzpatrick) talk about their firms’ risk response strategies. The session was produced and moderated by Brian Lynch at IntApp. (Those who registered but were not able to attend should expect to receive a link to a video recording shortly. Email: info@riskroundtable.com for more details.)
  • The Call for “Special” Conflicts, Mobility and Liability Rules for Larger Law Firms: A group of 23 large law firms is lobbying the ABA for a separate set of professional rules applicable to large, sophisticated clients. Such clients would be identified by factors such as:
    • “…whether a firm is publicly traded, the size of its balance sheet, the number of jurisdictions in which it operates, and how much it uses legal services.”
    • “The primary causes of concern among large law firms and their clients, said Davis and Jones, are the lack of uniform professional conduct rules in the United States, where lawyers are regulated on a state-by-state basis, restrictions on lawyer mobility imposed by a number of states, and the basic purpose of lawyer regulation in the United States.”
    • For its part, the ABA 20/20 Commission expressed some skepticism at the practicality of the idea and offered other possible approaches.
  • NFL Takes a “Pass” on Granting Conflict Waiver:  “The NFL has rejected a law firm's request for a conflict-of-interest waiver to represent a group of players seeking to join the antitrust fight against the league.”
  • Lawyer Insider Trading Updates : News from alleged lawyer insider trading scandals unfolding in Canada and more interesting background coming to light on the Kluger situation in the US.

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