The Securities and Exchange Commission has a harsh message for in-house lawyers: Fulfill your gatekeeper duties, or suffer the consequences. John Isselmann Jr. learned this lesson last fall when he became the first GC in the post-SOX era to be penalized for gatekeeper violations. The SEC's civil case against Isselmann, the former general counsel of Electro Scientific Industries Inc., is a cautionary tale for corporate counsel everywhere.
Setting an Example
January 20, 2005