Law360 named Covington a Compliance Practice Group of the Year and the accompanying profile included commentary from Steve Fagell and Jennifer Saperstein about what sets Covington apart in the compliance space.
As Steve states, "I think that in general, regulators know that we are honest brokers with the facts, but we're also tenacious advocates, and we're credible advocates."
Steve explained that the area of compliance brings together two critical skills — the ability to guide clients prospectively in complying with the law, and the ability to defend them effectively when regulators allege they haven't. Looking to the future for the firm's white-collar practice, Steve said attorneys are keeping a close eye on the priorities of U.S. regulators, such as the Department of Justice and the SEC.
The firm is "incredibly well-positioned to advise just about any company in the world who may face regulatory enforcement issues, both in the United States and abroad," Steve said.
Jennifer highlighted the strength and breadth of the firm's practice, saying it's able to succeed across a range of subject matter and geographies.
"I think that is really the true accomplishment of this work ... the breadth of what we're able to do and the various subject-matter expertise that we're able to pull together in a way that is really seamless for our clients," Jennifer said.
She said attorneys have applied their regulatory and compliance acumen to cutting-edge questions and issues, including new technology such as artificial intelligence as well as new legal frameworks — such as in the human rights and environmental, social and corporate governance spaces.
As Jennifer mentioned, one new aspect of the firm's white-collar and compliance practices is a focus on institutional culture and social responsibility, or ICSR. She said Covington is a leader when it comes to shareholders bringing proposals for companies to conduct racial equity audits or civil rights assessments.
"We've brought together compliance experts, white-collar experts and employment law experts to really develop a leading practice in this area," she said. "It is very much a key aspect of our compliance practice these days."
Jennifer also noted that regulatory and compliance expertise is "built into everything we do" at Covington.
"It's not bolted onto our corporate work or litigation work or white-collar work," she said. "It is truly an equal partner with those significant practice areas."
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