If "three anecdotes constitute a trend," as journalists
say, then I’m here to report an optimistic development. First,
as my friend Denise Howell reports,
her firm, Reed Smith, announced
yesterday the formal launch of "ComplianSeek"™. I’ll
let Denise explain it: ComplianSeek is
"aimed at helping investment advisors effectively search
their email — which, like it or not, has become a de facto record repository
for these and all modern businesses — to help identify and keep track
of items that constitute “books and records” under the Investment Advisors
Act."
Secondly, Denise reminds us of an earlier Reed Smith technology/compliance
initiative,
which I have been derelict in not bringing to the attention of "Adam Smith,
Esq." readers, the 50 State HIPAA Privacy Study—a web
interface to decoding and understanding the notoriously complex HIPAA
rules. For example, search "New York State/Doctors/Security,"
and the federal and state rules pop up. Beats taking a legal pad
to the library.
Third, albeit in a slightly different dimension, Ron Friedman notes that
a somewhat cryptic—but thoroughly intriguing—ad ran in
Tuesday’s Wall Street Journal announcing O’Melveny
& Myers is seeking a "Director of Practice Development [so
far so tame] and
Market Information,"
which got Ron’s attention—evidently, the ad expressly mentioned
"experience working with CRM systems." Could
law firms finally be seeking competitive intelligence? It certainly
looks that way.
So what’s the "trend," you ask? Law firms adopting
technology to serve their clients better, while advancing their own
business interests in the bargain. High time.
