The recent change in party control of both the Senate and the House of Representatives means one thing for U.S. business: a significant increase in congressional oversight and investigations that will examine business practices, the relationships between business and the current administration, and whether federal regulators have been sufficiently vigilant in their activities.
This is paramount for any business or industry that finds itself within the potential scope of a congressional investigation. It may signify a highly public examination of a company or an industry in a forum where there are few, if any, rules and companies have few, if any, rights. The result could well be referral to federal, state or local prosecutors or regulators for enforcement or regulatory action. In addition, trial lawyers are often all too willing to use the fruit of those efforts in civil litigation.
The Democratic takeover means new chairs for every committee and subcommittee in the Senate and the House of Representatives. Some of these bodies have broad subpoena authority and a lengthy history of public hearings, sophisticated media operations and cooperation with enforcement officials such as state attorneys general who are ready, willing and able to take action. Some committee and subcommittee chairs have already committed to aggressive oversight hearing schedules and targets.
Cautious and savvy businesspeople who already know that their industry is in the crosshairs are taking measures now to prepare for the potential onslaught. It's important to understand that congressional hearings are unique and very different from ordinary litigation: there is no judge overseeing the proceedings, almost everything is public, and all of it takes place at the center of the U.S. government. Representing companies, industries and individuals in the face of congressional oversight and investigations requires a marriage of high-quality legal and political skills. Alongside our Internal Investigations Group, the Congressional Investigations Task Force can help public and privately held companies navigate and resolve allegations against individuals and corporations. Businesspeople must start planning for those hearings and their potential consequences now — not when the first subpoena arrives, the first "bad" story runs, or the stock analysts change their recommendation to "sell."
The accomplished professionals at Bingham have a deep and varied background that brings to bear critical litigation, political and communications skills. We provide background counsel and direct representation. With the resources of an international law firm, Bingham also provides important ancillary legal services such as document review and production under the tight deadlines often imposed by congressional committees.
Our professionals include nationally recognized authorities on congressional investigations such as Jim Hamilton and three former chief counsels of Senate subcommittees: Barry Direnfeld, Tim Shea and Gary Slaiman. The Bingham team understands the interplay between Congress, the media and Wall Street, and we work routinely with companies to prepare for and navigate the many challenges of congressional hearings and investigations.