Over half of US companies with revenues of US$1 billion plus have at least one or more regulatory proceeding pending against them, according to the latest research from Norton Rose Fulbright. A quarter of all respondents reported at least one class or group action against their companies in the preceding 12 months, with survey participants from the US comprising 80 percent of that number. Respondents across the board expect the legal environment to continue to grow in complexity with 25 per cent of respondents anticipating litigation against their companies increasing in the next 12 months, compared with just 14 who predict it will decrease. Half of all respondents have spent more time during the last three years addressing regulatory requests or enforcement proceedings.
More complex
Gerry Pecht, global head of dispute resolution and litigation, Norton Rose Fulbright, said: 'What we are seeing is a direct response to the ever-broadening array of legal and regulatory challenges that companies face today. As the business environment becomes more complex, companies are spending more out of necessity to protect their interests and ensure that they are represented properly.'
Email your news and story ideas to: [email protected]
