The financial services industry and more than a dozen top law firms that represent the industry are expressing concern that reaction to JPMorgan's recent $2 billion loss could sour months of expensive lobbying work on Capitol Hill and before key regulatory agencies. Nowhere is this tension more apparent than in the push and pull over the pending multiagency Volcker Rule, which proponents say could rein in the activity that led to the company's massive trading loss.

The abrupt dismissal of a $3 billion malpractice case came amid concerns about Dewey's finances and a stream of partner departures, but it's hard to know whether resolving it added to the fiscal woes that overtook Dewey. That's because the settlement's terms, and details about how much the firm agreed to pay out, are shrouded in secrecy.Also see: Dewey: Profiles in Something

If you think your company doesn't send spam, you may want to double-check. A Canadian anti-spam law with global reach is poised to cast a wide net for offending communications. Given the hefty fines and class action potential, the new law is sure to prompt tough conversations between in-house counsel and company marketing departments.