Covington Faces Potent Threat in SEC Push for Its Client Names

The clash between Covington & Burling LLP and the US Securities and Exchange Commission over the identities of some agency-regulated clients tests the limits of attorney-client privilege for firms trying to shield such information.

The SEC asked a Washington federal court last week to force Covington to comply with a subpoena seeking the names of 298 of its clients whose information may have been exposed in a cyberattack that hit the firm’s computer systems.

The agency wants companies it regulates to be more transparent about cyber incidents. Some attorneys worry that the SEC’s push for client names may weaken the ...