Compliance threats emanating from politics, law, regulation and governance are high on the awareness list for general counsel in 2015. Thirty per cent say these potential threats are the biggest risk to their business in the next 18 months, whilst 60 per cent name compliance and regulation as the issue they are most concerned about. Rosemary Martin, general counsel of Vodafone goes one further by saying that general counsel should have an ‘almost socio-political role’. She believes that they should aim to shape ‘the laws and regulations that impact on an organisation’s ability to do business.’
Reducing risk
Harry Trueheart, chairman emeritus of Terralex and Nixon Peabody, gives his views on the findings. ‘Helping clients to see around regulatory and compliance corners – to help clients reduce risk as well as helping them resolve regulatory issues – is a clear need of general counsel. Law firms with the capacity to meet those needs will be in demand. In a global context, deep local expertise is a key Requirement.' If you are interested in a copy of The GC Excellence Report 2015, please contact [email protected]
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