Compliance Law?

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AntipodeanPhil
Posts: 1300
Joined: Fri Apr 08, 2011 7:02 pm

Compliance Law?

Postby AntipodeanPhil » Tue Jul 19, 2011 7:18 pm

Is there such a thing as compliance law - as a subfield of corporate or business law? For example: being employed to make sure a company is in compliance with the Sarbanes-Oxley Act, or something similar, or being employed to defend a company against a charge of non-compliance. If there is such a thing, is it possible to get a job with a firm that does that work out of law school, or is that sort of thing only done in-house?

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GeePee
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Joined: Fri Jul 03, 2009 7:35 pm

Re: Compliance Law?

Postby GeePee » Tue Jul 19, 2011 8:13 pm

Something like this falls into a bunch of different areas of law. Some parts of the accounting provisions of something like S-O might be handled by a tax department, in order to design practices that come into compliance with these law. The internal investigations for compliance with other parts of the statute, or something like the Federal Corrupt Practices Act might be handled by a white collar practice. Some litigation practices specialize in this type of regulatory work if the issues get to that stage.

Dodd-Frank is the new flavor of this sort of work, and has provided firms with the relevant expertise with a good flow of work. But yeah, biglaw firms deal with this kind of stuff all the time. And young associates can get involved in this kind of work, but mileage regarding the substance of the work will vary greatly by firm and practice group.

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Bronte
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Re: Compliance Law?

Postby Bronte » Tue Jul 19, 2011 8:17 pm

I don't think it's really an area of practice, but a lot of firms do it. Many areas of practice involve compliance work. For example, a lot of capital markets stuff is compliance (e.g., lawyers makes sure the issuance of bonds complies with the relevant securities laws). A lot of employment law (on the firm side rather than the labor side) is compliance work, making sure firms policies, etc., comply with employment laws and regulations.

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AntipodeanPhil
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Re: Compliance Law?

Postby AntipodeanPhil » Tue Jul 19, 2011 8:52 pm

Thank you! I'm a 0L thinking about how I might make use of my background for a post-JD career. These answers are extremely helpful.

johndhi
Posts: 358
Joined: Sun Sep 27, 2009 11:25 am

Re: Compliance Law?

Postby johndhi » Tue Jul 19, 2011 10:14 pm

You might be interested to hear that ...

I was just speaking with my admin professor the other day and she reiterated something she said in class during the year: compliance work is most of what corporations pay lawyers for these days. I think a lot of the "regulatory" work you hear about, whether in the DC firms or elsewhere, is referring to making sure companies' actions and potential actions are compliant with the C.F.R.

This is kind of contrary to what MY understanding of the legal field was, having worked almost exclusively in litigation. I guess to some extent, when you're litigating a case and an agency is involved or a regulation violation comes up, you're doing compliance work in some regard. Anyone else have input on this?




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