Regulatory, Competition & Government Affairs

What Is It?

Regulatory lawyers help clients navigate the complex web of government rules that govern their industries and operations. This is a broad practice area with several distinct but related strands. General regulatory work covers industry-specific compliance across financial services, environmental law, healthcare, food and drug, and more. Competition law (also called antitrust) focuses on the rules that govern how companies compete — preventing monopolization, price-fixing, and mergers that harm consumers. International regulatory and anti-corruption work, including the Foreign Corrupt Practices Act (FCPA), addresses the legal risks that arise when companies operate across borders. Together, these strands share a common thread: understanding how government rules constrain and shape business behavior, and advising clients on how to operate within those rules.

What Will You Actually Do?

• Advise clients on compliance with laws and regulations specific to their industry
• Represent clients in proceedings before government agencies such as the FTC, DOJ, EPA, FDA, or SEC
• Advise on whether proposed mergers may trigger antitrust review and prepare regulatory filings
• Counsel companies on competition law compliance — avoiding price-fixing, market allocation, and other prohibited conduct
• Advise multinational companies on FCPA compliance and anti-bribery obligations
• Respond to regulatory inquiries, government investigations, and enforcement actions
• Help clients obtain licenses, permits, and regulatory approvals
• Monitor and analyze regulatory and legislative developments affecting clients

As a Junior Lawyer, Expect To…

• Research regulatory frameworks, agency guidance, and enforcement precedents
• Prepare filings, comment letters, and merger notifications to agencies like the FTC, DOJ, or EU Commission
• Draft compliance memos and internal guidance for clients
• Review and organize documents in connection with agency investigations or merger reviews
• Track regulatory and competition law developments across relevant agencies and jurisdictions

This Might Be a Good Fit If You…

• Are interested in how government rules shape entire industries and markets
• Enjoy working at the intersection of law, economics, and policy
• Want to develop deep expertise in a particular regulated sector or area of law
• Like advisory work and client counseling alongside enforcement defense
• Are drawn to international business and the challenges of operating across different legal systems

Key Terms to Know

• Notice-and-Comment Rulemaking: The process by which federal agencies issue new regulations — agencies publish proposed rules, accept public comments, and then issue final rules.
• HSR Filing: A mandatory pre-merger notification to the FTC and DOJ required for large deals under the Hart-Scott-Rodino Act — the starting point for antitrust merger review.
• Second Request: An in-depth follow-up request from the FTC or DOJ for documents and information during a merger review — a sign of heightened antitrust scrutiny.
• Per Se Violation: Conduct that is automatically illegal under antitrust law regardless of its market effects — the clearest example is price-fixing between competitors.
• FCPA (Foreign Corrupt Practices Act): A U.S. federal law that prohibits companies and individuals from bribing foreign government officials to obtain or retain business. It applies to U.S. companies operating anywhere in the world, and to foreign companies listed on U.S. exchanges.
• Consent Decree / Consent Order: An agreement between a company and a regulator resolving an enforcement matter — often requiring the company to pay a fine, change its behavior, or divest assets.
• Market Definition: In antitrust analysis, the process of identifying the relevant product and geographic market in which to assess competitive effects — a central issue in merger reviews.
• Enforcement Action: When a government agency takes formal action against a company or individual for violating a law or regulation.