A new breed of adviser
US consultancy firm Altman Weil is predicting all major US law firms will have a general counsel of their own in the near future. The statistics reveal the trend is certainly spreading, while the UK law firm general counsel is more of a rarity. Ed Thornton reports
US law firms have reaped the benefits of the post-Enron corporate world,with a large number of companies soliciting their help with a daunting task of Sarbanes-Oxley compliance. Many firms have begun to realise the need to keep their own houses in order and, like any other company, ensure they comply with an increasingly stringent regulator. Consequently, an increasing number are appointing a designated general counsel of their own to keep the regulators at bay.
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