Banking regulation: Client attorney privilege
For those who spent winter hibernating and woke up just last week, change is the new black. Turn on the news and if you are not being told about changes to our climate, you are hearing about "real change" in politics, society, health care and the economy. Within the legal profession, there is perhaps one area that will change most as a result of the economic crisis and the Madoff fraud - the practice of investment funds law. There are calls for an overhaul in standard practice, especially concerning areas such as regulation, attorney/client privilege and tax. Whether these proposals represent the most effective solution is debatable, and it is fair to say a closer examination is needed.
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