Were the lawyers in Enron involved in a securities fraud? If they were, what, if any, public policy changes should be made? Have the lawyers given up their right to be self‐​regulating, and will there be a new federal bureaucracy to govern their conduct? Are the current laws sufficient? Does the SEC’s proposal on Section 307 of Sarbanes‐​Oxley or the American Bar Association’s response to Sarbanes‐​Oxley Section 307 solve the problem?