The 'Legal Risk Benchmarking Survey' shows that 'legislative and regulatory issues' are the most concerning risk factor for respondents. But only one in five respondents are 'confident' of being able to identify and reduce emerging risks in their businesses. By contrast, six out of ten feel they have a 'clear understanding' of legal risk.
Enhanced regulatory attention
One respondent's comment shows how regulation is skewing the way some financial institutions are running their operations, by saying: 'Banks appear to be focusing on issues that are receiving enhanced regulatory attention, rather than proactively considering their own risks relative to the regime as a whole.'
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