Why Compliance Is a Hot Practice Area By Lori Tripoli Law Practice Management Expert
Having doubts about the viability of compliance as a career option?
Consider that the Association of Corporate Counsel Chief Legal Officers Survey identifies compliance as a top concern of chief legal officers. The Robert Half Salary Guide for the Legal Field identifies hiring opportunities in compliance as a trend both at law firms and in corporate legal departments. More and more regulations are being issued covering the financial industry and other fields. The number of Federal Register pages published on proposed and final federal rules grew from almost 22,000 pages in 1976 to more than 45,500 in 2014.
Those working in this area can, in part, thank certain bad actors, such as Bernie Madoff, for the increased attention devoted to compliance. Madoff, of course, was the financial wizard who just happened to run the largest Ponzi scheme ever discovered. “Bernie Madoff certainly put many aspects of the financial industry on notice with respect to their compliance responsibilities,” says David Smyth, a partner at Brooks Pierce in Raleigh, N.C. He is also a former assistant director in the Securities and Exchange Commission’s enforcement division.
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What Do Compliance Lawyers Do? By Lori Tripoli Law Practice Management Expert
Given that compliance is such a hot practice area in our current regulatory climate. Thanks in part to the high-profile acts of a few bad actors triggering greater enforcement and a corporate universe anxious to minimize risk, it is perhaps no surprise that there is plenty of work for compliance lawyers. “Companies that treat their compliance obligations seriously and devote time and effort to that are going to drastically limit the number and scope of the government inquiries they have to face,” says David Smyth, a partner at Brooks Pierce in Raleigh, N.C.
The need to comply with statutes and regulations stretches across industries, of course. “Pharma companies obviously have to pay close attention to Food and Drug Administration regulations. Companies with overseas customers need to think about the Foreign Corrupt Practices Act (FCPA) and import/export regulations. Media companies will have to consider Federal Communications Commission regulations, and often won’t have to worry about any of those others,” Smyth says. “Lately, we have seen an increased attention to retail, tech, and financial industries. The agencies that enforce anti-bribery laws typically look at the entire industry in the course of investigating a subject company, so the risk of being investigated and paying a hefty penalty will remain high across the industry,” observes Laura Martino, general counsel and national compliance director for Tower Legal Solutions in New York.
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Are you a Legal and/or Compliance Professional? Interested in working from home?
National consulting firm, is looking for temporary legal and compliance professionals to work remotely. Candidates must have regulatory compliance and/or industry compliance backgrounds, particularly in the Investment Advisers Act of 1940, Investment Company Act of 1940 and FINRA rules.
Candidates must have worked for the SEC and/or directly for an investment advisory firm including Venture Capital firms, Hedge Funds, Private Equity firms for at least 5 years. This project will start immediately!
For consideration, send your resume in Word format to:
Daniel Hurd | VP Legal Staffing & Consulting Services
Daniel Hurd | VP Legal Staffing & Consulting Services
Daniel Hurd brings a wealth of experience and determination to his position as Vice President of Legal Staffing & Consulting Services at JW Michaels and Company. Daniel specializes in the recruitment of attorneys, paralegals and legal support staff for temporary, temporary-to-hire, long-term contract, and direct-hire on a contingency fee basis.
A native Washingtonian turned New Yorker, Daniel prides himself on his proven track record and relentless ability to match top talent with outstanding career opportunities. In the famous words of Babe Ruth, Daniel believes:
“It’s hard to beat a person who never gives up.”
Daniel looks look forward to the opportunity to serve as a resource, so feel free to reach out and connect:
Real Estate Paralegals:
Seeking Junior and Senior Real Estate Paralegals for temp-to-perm roles with a large law firm. This position will consist of helping attorneys with commercial and residential real estate transactions. Must have 5 years’ experience in commercial and residential real estate transactions.
Business Development Coordinator:
Temp Business Development Coordinator with Large International Law Firm. This position provides business development and marketing support to various practice areas in the NYC office. If you have law firm marketing or business development experience, we want to hear from you! This long-term temporary assignment will last until the end of 2015.
NYC law firm is searching for a long-term temporary Litigation Paralegal to start work immediately! Candidate must have 4+ years of prior paralegal experience in a plaintiff personal injury/wrongful death torts law firm. Position will be for one year and offers top hourly rate!
Seeking Contract Attorney with 5 years’ experience in construction related matters for national law firm. This is a 6 month contract role starting immediately!
Interested in any of these openings? Contact DHurd@JWMichaels.com or 646-624-2306.