Recent SEC Enforcement Actions Against In-House Lawyers: An Ominous Trend for The Legal Profession.

The authors comment on the U.S. Securities and Exchange Commission enforcement actions pursuant to the congressional mandate in Section 307 of the Sarbanes-Oxley Act, and its impact on in-house lawyers. They assess the role of these lawyers as gatekeepers resulting from the direct result of accounting scandals that occurred in large corporations. They argue that the Act has transformed the traditional role of in-house counsel as a trusted adviser who had the complete confidence of senior management to that of a whistle-blowing police officer.