Data from Leopard Solutions’ attorney database shows that 17 attorneys left the SEC’s legal ranks in the first six months of 2021. A significant number of moves from government into private practice are expected in the first six months of a new administration. But in the first six months of 2022, the number of laterals leaving the watchdog rose to 18. That’s curious, say industry observers.
“You’ve had an incredibly unusual market over the last two years, starting at the end of the second quarter of 2020 up until today. It’s probably the most robust lateral market I’ve seen in 20 years,” said Lowe. “If you’re an SEC lawyer and you see such a robust market, it’s hard to stay as happy as you were at your job for $240,000, when the other person who’s doing what you’re doing is now getting multiples of that—and probably not working very much harder.”