Professional Services INDUSTRIES

Providing effective counsel and advice to those in the professional services industry requires a thorough understanding of their practices, sound judgment, and consideration of the special needs, sensitivities, and stakes involved in the legal and business challenges they face. Over the years, we have successfully represented accounting firms, law firms, corporate officers and directors, consultancies, and other individuals in the professional services industry in a broad range of matters—some of which threatened the client's reputation or even the very existence of their business.

The substantial experience of our lawyers covers the full spectrum of regulatory, corporate and litigation matters encountered by those in the professional services industry, including such issues as professional liability and responsibility, standards of practice, licensure, auditor independence, contractual arrangements, competition, and complex civil and criminal litigation.

Experience

  • Our lawyers were involved in the landmark "Wouters” case on the application of competition law to rules of conduct of liberal professions, resolving at the preliminary reference stage the application of Articles 81 and 82 EC to the Dutch Bar Association ban on multidisciplinary practices.
  • We were involved in the proceedings initiated by a Belgian law firm before the Belgian Supreme Court against the Flemish Bar regulation prohibiting any form of cooperation between attorneys and members of other professions (accountants, tax consultants, management consultants, etc.) on the ground that the regulation infringes Article 81 of the EC Treaty.
  • We represented The National Academy of Arbitrators in an FTC investigation challenging the association’s ethical rules on advertising and solicitation; we obtained a consent agreement allowing the association to regulate the truthfulness and nondeceptiveness of its members’ promotional activities.
  • We represented five former partners of the law firm of Nussbaum & Wald in a suit against another partner over the distribution of the firm’s assets after its dissolution. At the conclusion of a five-day bench trial, the district court ruled that our clients were entitled to equal share under the Uniform Partnership Act.

Publications & News

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May 22, 2018

EU to Reactivate 1996 Blocking Regulation Against US Sanctions on Iran

On Friday, May 18, the EU Commission launched the formal process to reactivate a 1996 trade defense law in response to the US withdrawal from the JCPOA on Iran's nuclear program.

March 8, 2018

The #MeToo Movement: The Critical Role of the Board in Preparing for, Responding to and Avoiding Sexual Misconduct Allegations

As the #MeToo movement gains momentum, companies in nearly every major industry are dealing with allegations of gender discrimination, sexual harassment or even sexual assault—including allegations of widespread misconduct and inappropriate behavior within the upper echelons of the corporate structure.

July 13, 2016

Civil Fines Jump Across Agencies Under Inflation Adjustment Act

Civil fines across federal agencies have recently been increased dramatically under the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (2015 Act) (Sec. 701 of Public Law 114-74), with some more than doubling. Companies violating the Hart-Scott-Rodino (HSR) Improvements Act, the Securities and Exchange Act, or the Occupational Safety and Health Act (OSHA), among others, could soon face civil monetary penalties that are up to 150% higher than the existing levels. According to the Congressional Budget Office, the 2015 Act would increase the federal government's revenue by $1.3 billion over the next ten years.

March 13, 2014

Supreme Court Issues Decision Analyzing Whether Misrepresentation is “in Connection with” Purchase or Sale of Covered Security

On February 26, 2014, in Chadbourne & Parke LLP v. Troice et al., the Supreme Court narrowed the definition of “in connection with” as that term is used in the Securities Litigation Uniform Standards Act of 1998 (SLUSA).

February 20, 2014

Update: SEC's Financial Reporting and Audit Task Force

On February 11, Margaret McGuire, Vice Chair of the US Securities and Exchange Commission's (SEC) Financial Reporting and Audit Task Force (Task Force), participated in a DC Bar panel discussion to review the objectives, administration and early initiatives of the Task Force since its formation was announced by the SEC last July.

October 25, 2010

In Seminal Decision, New York Court of Appeals Rejects Attempt to Expand Scope of Liability for Professional Service Providers

October 13, 2010

Multiple Claims Toward a Single Satisfaction: Interpreting the "Single Satisfaction" Rule with Respect to Bankruptcy Claims

March 4, 2009

New Massachusetts Regulations on Withholding by Pass-Through Entities: Action Required by April 30, 2009

February 5, 2008

WilmerHale Reflects on a Successful 2007

A Year of Significant Accomplishments

June 2, 2006

Chambers USA 2006 Ranks WilmerHale A Leader In 28 Practice Areas; 88 Lawyers At The Top Of Their Practice