Friday, October 14, 2011

Report from Yesterday's Chicago Risk Roundtable Session Hosted at Foley & Lardner


Yesterday we held, a Risk Roundtable session in Chicago. Many thanks to Foley & Lardner for hosting. Brian Lynch delivered a presentation updating attendees on current risk issues and trends, and moderated group discussion. He sent his customary summary of the wide ranging group discussion:
  • Dan – We kicked off our Fall series of the Risk Roundtable at the Foley offices in Chicago. We discussed legal trends in the US, UK, and Canada, spending a good portion of our time on recent decisions regarding disqualification motions.
  • Outside counsel guidelines continue to be a growing source of work for risk teams - federal government agencies seem to be creating requirements that are much more aggressive than those from the private sector. "Outside counsel management" has become a cottage industry for consulting firms. [Ed: See our upcoming webinar on this topic.]
  • Foley shared with the group their approach for centralizing regulatory compliance. Many issues - ranging from unauthorized practice to lobbyist activity reporting to ITAR - fall within the scope of their Loss Prevention department. Kirkland & Ellis mentioned that they have a similar structure. It enables them to consistently apply appropriate controls and frees up lawyers to focus on billable work.
  • It was a productive forum for risk professionals to ask their peers how they approach different issues, like balancing knowledge sharing and security or ensuring compliance with outside counsel guidelines. A good session with lots of food for thought.
Our next Risk Roundtable meeting will take place October 24th in San Francisco. Watch this space for more details. (If you'd like to join us in San Francisco, or host a Risk Roundtable in your neck of the woods, please feel free to get it touch: dan@riskroundtable.com.)

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