The General Counsel in the Age of Regulation

December 14, 2016
Crain’s New York Business

Stephen Jacobs was quoted in Crain’s New York Business regarding how general counsels can help their clients navigate the risks and challenges of complying with complex federal regulations. Many financial services firms have difficulty keeping up with the 2,500 to 4,500 regulations published each year, and thus must rely heavily on the guidance of a general counsel. Jacobs told the publication that general counsels must often exercise diplomacy as they guide their clients on how to comply. “We’ve seen a true sea change in what regulators are looking at and how they are approaching regulation in our industry,” said Jacobs. “Generally what you are doing as an in-house lawyer or chief compliance officer or both is to help the fund navigate choppy waters—and come to a place that really is beneficial both to the fund itself and the individuals involved.”