More Than Four Score Law Firms File Amicus Brief Opposing SEC Assault On Client Confidentiality

In several recent posts, I have discussed Covington & Burling LLPs opposition to an SEC subpoena demanding that the law firm "name names".  See SEC Suit Against Covington & Burling Threatens More Than Attorney-Client Privileged Information, SEC Demands That Covington & Burling "Name Names"and Covington's Substantial Investment In Protecting Client Confidences.  Now more than 80 law firms from across the country have filed an amicus brief opposing the SEC's attempted enforcement of its subpoena.  The brief advances three arguments against enforcement of the SEC's subpoena:

  • Time-Honored Principles Of Attorney-Client Confidentiality Shield Client
  • The SEC Claims Broad Entitlement To Client Confidences Based On Minimal
    Justifications; and
  • Compelling Disclosure Of Client Identities Punishes Innocent Clients, Burdens
    Attorneys, And Undermines Cooperation With Law Enforcement.

Although the list of amici is long, the brief is short - just over 12 pages.