Shock: Balch’s First-Ever Chief Compliance Officer Out
Stephen P. Feaga, a pillar of integrity who had served the Deputy Director of Enforcement and Litigation at the Alabama Securities Commission before joining Balch & Bingham in 2018, has left the embattled firm.
He was Balch’s first-ever Chief Compliance Officer.
Some may ask: If a law firm refuses to comply with “the highest ethical standards” and “best business practices,” what good is a chief compliance officer?
Although extremely disappointed that Feaga, a former Assistant U.S. Attorney, was mostly silent these past two years, we believe his hiring by Balch was nothing more than window dressing.
Last year, revelations and allegations from the Newsome Conspiracy Case appeared to show lapses to best practices and ethics involving the firm including:
- The use of a counterfeit court order.
- The alleged distribution network that funneled over $30,000 in alleged bribes.
- The allegations of witness tampering.
- The eye-popping contradictions of a former Balch partner.
Coming on the heels of Jesse S. Vogtle, Jr.’s stunning departure from Balch after 31 years, Feaga’s departure will rock the legal community.
Feaga has also created a dilemma for other attorneys at Balch who are asking: Should I stay or should I go?
