COMPLACENT - Law firms are resting on their laurels. So says Altman Weil, which has released its Law Firms in Transition survey. Dylan Jackson reports that while demand and gross revenues were up last year, law firms have stopped aggressively pushing for the cost-effective services that clients are still demanding. The study found that just 54% of law firm leaders say their firm’s urgency to change is higher now than it was two years ago. Only 22% of firms made a serious effort to change work processes.
THE ENFORCERS - SEC enforcement actions remained at near-record levels through the first half of fiscal 2019, Sue Reisinger reports. Of the 52 actions against public companies and subsidiaries during the period ended March 31, some 67% were against the finance, insurance and real estate companies. And although critics are challenging the legality of the process, the SEC filed 100% of the actions as administrative proceedings.
