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Full-Text Articles in Securities Law
Caught Between A Rock And A Soft Place: Regulating Legal Ethics To Police Corporate Governance In The United States And Hong Kong, Susan E. Carroll
Caught Between A Rock And A Soft Place: Regulating Legal Ethics To Police Corporate Governance In The United States And Hong Kong, Susan E. Carroll
Washington International Law Journal
Both the United States and Hong Kong have suffered through corporate governance scandals in recent years. The two nations have tried different methods of regulating legal ethics in order to curtail future corporate governance scandals. The United States, via the Sarbanes-Oxley Act of 2002, empowered the Securities and Exchange Commission ("SEC") to dictate disclosure requirements to U.S. lawyers who represent listed corporations. This mandate creates conflicts between lawyers' duty to keep clients' secrets and their duty to disclose client information for the protection of public interests. Hong Kong took a completely different approach. The Hong Kong Stock Exchange negotiated the …