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WHAT WE'RE WATCHING

HIGHER - Billing rate growth of 4.5% at major law firms, the most robust since 2008, largely drove a revenue boost of 5.3% in 2019, a survey from Citi finds. And while demand increased by 1.1%, according to the report, two factors dampened revenue growth in 2019: a slight drop in realization and a longer collection cycle. 

RISKY – In-house counsel are increasingly concerned by the rise in the number of enforcement actions against individual chief compliance officers. Sue Reisinger reports that a new study from the New York City Bar Association shows a growing risk of liability stemming from assessments made in hindsight of what a compliance officer should have done to detect and prevent company misdeeds. In-house counsel say they want more specific communication from regulators, especially about when compliance officers can be held liable. 

ENDING - Closing arguments are expected to begin today in Michael Avenatti's extortion trial, after Manhattan federal prosecutors rested their case on Monday. Avenatti, the controversial California lawyer known for his representation of adult film star Stormy Daniels, will not take the stand in his own defense, which is expected to be very limited in scope and won't include any witnesses. 

EDITOR'S PICKS

Feds Ask for Up to 9 Years Prison Time for Roger Stone, Citing 'Contempt for this Court'

Elizabeth Holmes' Lawyer Assails Theranos Prosecution as 'Massive Case With Undefined Contours'

Orrick's Partner Profits Break $2 Million, Firm Posts Double-Digit Revenue Growth

Want a Job as Outside Counsel? 4 Tips From Lawyers Who Make the Call

When Must US Pay Legal Fees? A Vietnam Vet Turns to the Supreme Court

Uber and Postmates Lose Bid Over CA Employee Reclassification Law

WHILE YOU WERE SLEEPING

EXPANDING – Crowell & Moring has moved into Singapore through its policy and regulatory consulting affiliate, C&M International, as the firm looks to tap into the city-state's growing economic prominence. David Thomas reports that Clark Jennings, a former Obama administration official, will work from the location, where more staffers are expected to join.  

WHAT YOU SAID

"[It's] a huge pain point for in-house counsel in terms of the process just not working."

— Mili Desai, director of legal services for Globality, on the flaws in the RFP process that in-house counsel use in hiring law firms, and the role of artificial intelligence in improving that process.

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