The Association of Corporate Counsel (ACC) advocates on behalf of its 45,000 members to protect legal professional privilege, which is critical for in-house counsel to be effective in their roles. As such, ACC filed an amicus brief in SEC v. Covington & Burling, joining other organizations and numerous law firms.
“ACC is disappointed in [July 24]’s ruling in SEC v. Covington & Burling that the SEC did not exceed its authority in seeking client information from Covington and Burling,” said Susanna McDonald, vice president and CLO of ACC. “ACC stands by our position that the SEC is overstepping its authority and that the client information sought by administrative subpoena is protected by attorney-client privilege and the DC Rules of Professional Conduct. More than 300 federal agencies have this same subpoena power and if upheld, the court’s decision threatens to expand the use of administrative subpoenas.”