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Partners Neil M. Barofsky and Michael W. Ross were recognized by New York Law Journal as Trailblazers for 2019 for their respective work on Monitorships and in FinTech. This is the inaugural list of New York Trailblazers and features lawyers who are innovators and thought leaders in the midst of constant technological and social change.
In his profile, the publication recognized Mr. Barofsky for his “Pioneer Spirit” in monitoring corporate compliance. As a former federal prosecutor, and as the Presidentially-appointed first special inspector general of the historic US$700 billion Troubled Asset Relief Program, Mr. Barofsky built a first-of-its-kind Monitorship Practice at Jenner & Block and sees a growing role for corporate monitors. He stressed that monitorships are not only about compliance, but also reform. “There’s a tendency for a monitor to look at a problem, identify how he or she would solve the problem and impose that solution through a recommendation on the company. If the reforms aren’t smart, if they don’t make sense, if the company hasn’t fully accepted them, they throw them out the window the second you walk out the door.”
The publication recognized Mr. Ross for his accomplishments in the Financial Technology (FinTech) arena. It notes how Mr. Ross began his career litigating cases arising from the financial crisis of the mid to late 2000s and has used his knowledge of financial litigation to be at the forefront of FinTech litigation. Looking ahead, Mr. Ross said that the technology arena, “will continue to be a space that will develop and will require sophisticated investigation and sophisticated litigation counsel as issues arise.” In addition, the article also cited Mr. Ross as co-chair of Jenner & Block’s pro bono committee where he frequently represents asylum seekers. “It just struck me as unfair, really, that you’d have a child coming to the United States who would be navigating a very complex proceeding without a lawyer,” he said in his profile.