Wednesday, October 10, 2012

News & Updates: Global Legal Regulation, Choice of Law & Information Technology

Will we some day see a global regulation authority? "SRA throws weight behind global legal regulators’ network" --
  • "Legal regulators from around the world have agreed to create an information-sharing network as a first step towards the eventual formation of a global regulators’ organisation."
  • "The move was agreed at the first international conference of lawyer regulators, hosted in London last week by the Solicitors Regulation Authority (SRA). As well as representatives of the UK’s regulatory bodies, it was attended by senior regulators from many – mainly common law – jurisdictions, including the US, Canada, Ireland, Australia, Hong Kong and several African countries."
  • For more detail on participants and topics, see the conference web site.
With the ABA Ethics 20/20 Commission publishing new recommendations last month, the Legal Ethics Forum highlights an important recommendation: "Ethics 20/20 Proposals on Choice of Law Issues" --
  • "One draft proposal would permit lawyers and clients to agree that their relationship will be governed by a specific jurisdiction’s conflict of interest rules.  The proposal is designed to help lawyers and their clients predict, with more accuracy than Model Rule 8.5(b) can provide, which jurisdiction’s conflict rules would govern the lawyer’s representation of a client."
Finally, from the intersection of risk, information technology and corporate practice comes a call from Gartner for CIOs to interact more regularly with risk leaders: "CIOs Should Get to Know Their Chief Legal Officers" --
  • "The Gartner report recommends that CIOs and CLOs have regular, frequent and in-depth meetings so they can build a better relationship and understand each other's requirements, capabilities and outstanding issues. Of the CLOs who talk to their CIOs more than once a month, large majorities said they had changed their legal strategies or corporate policies after the conversation."

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