F. Hodge O'Neal Corporate and Securities Law Symposium

No One Can Serve Two Masters: Corporate and Securities Law After Enron

Joel Seligman
A widespread belief appears to have evolved in the United States financial community that time honored rules such as those that discourage conflicts of interest are quaint and easily circumvented. Too frequently, in recent years, sharp practitioners in business, investment banking, accounting or law appear to have challenged the fundamental tenets of “full disclosure of material information” or “fair presentation of accounting results.” A deterioration in the integrity of our…
F. Hodge O'Neal Corporate and Securities Law Symposium

Threats and Safeguards in the Determination of Auditor Independence

William T. Allen and Arthur Siegel
The Article that follows was written before enactment into law of the Sarbanes-Oxley Act. It attempts a brief explication of an existing conceptual framework for determining issues of auditor independence: that of the staff of the Independence Standards Board and suggests that approach is a much sounder way to address remaining issues of auditor independence than the approach reflected in the existing SEC Rule. Because the new Public Company Accounting…
F. Hodge O'Neal Corporate and Securities Law Symposium

The Paradoxical Corporate and Securities Law Implications of Counsel Serving on the Client’s Board

James D. Cox
This Article assumes that dual service will continue to be a practice, but not because it is the socially optimal result. Rather, dual service will continue to exist because it is, and has been, sufficiently pervasive to provide cause to believe no jarring change, such as proscription by the American Bar Association (ABA) or state bar organization, is even likely to occur. This Article provides a new perspective on the…
F. Hodge O'Neal Corporate and Securities Law Symposium

When Lawyers and Law Firms Invest in Their Corporate Clients’ Stock

I am not convinced that lawyers’ investments in clients in lieu of fees are problematic enough from a conflicts standpoint that the rules of professional responsibility should treat them as presumptively inconsistent with the lawyer’s fiduciary responsibility.
F. Hodge O'Neal Corporate and Securities Law Symposium

Monopolist, Aristocrat, or Entrepreneur?: A Comparative Perspective on the Future of Multidisciplinary Partnerships in the United States, France, Germany, and the United Kingdom After the Disintegration of Andersen Legal

Mary C. Daly
Part II provides a snapshot of the history of multidisciplinary partnerships in France, Germany, and the United Kingdom and the responses of the organized bars at the national and international level. Part III explores how the structure, culture, and ethics of the legal professions in Western Europe contributed to the rapid growth of MDPs. Part IV examines the economic threat that the Big Five’s legal networks posed to U.K. and…

To Become a Midwife: Reducing Legal Barriers to Entry into the Midwifery Profession

Susan Corcoran