Quote:
Originally posted by baltassoc
What worries me is that civil penalties are impose directly on the attorney for failing to comply, and such investigations are always done with perfect hindsight. If I make a decision as to whether something is okay that the SEC disagrees with, does anyone think the SEC is going to admit my position was nonetheless reasonable?
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Speaking of which, any word on the insurance implications--will existing companies' (or outside counsel firms' ) policies cover these problems if they arise, will companies start making standard Sarbox exclusions and then charge insanely for coverage, or is every counsel seriously in danger of personally getting jacked?