Not so long ago, it was virtually unheard of for a general counsel to be pursued by the authorities for alleged involvement in a company’s misdemeanours. But in a changed corporate climate in the US, in-house lawyers are no longer safe from investigations by the Securities and Exchange Commission (SEC). With greater visibility in a company’s executive structure, comes greater risk for general counsel.
A handful of legal advisers at major companies have found themselves at the heart of the SEC’s recent spate of investigations. Following in the wake of former Tyco general counsel Mark Belnick’s acquittal of all fraud charges in a case brought by the New York District Attorney, three more corporate counsel have hit the headlines as the SEC continues its push to stamp out corporate wrongdoing.
