Matthew O'Hara Authors Article in Law360 on H.B. 5487
Partner Matthew J. O'Hara recently authored an article in Law360 on H.B. 5487, a recently passed Illinois bill that would restrict law firms from certain business arrangements with management service organizations.
O'Hara argues the legislation encroaches on the Illinois Supreme Court's constitutional authority to regulate the legal profession, extends well beyond its stated focus on MSOs to sweep in ordinary law firm vendors, and in some areas simply duplicates what the Illinois Rules of Professional Conduct already require. Regardless of whether the governor signs it, O'Hara expects more efforts in Illinois and beyond to regulate outside investment structures in law firms.
Read the full article (subscription may be required): https://www.law360.com/articles/2493314/ill-law-firm-mso-bill-clashes-with-court-power-ethics-rules
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