Privacy and Cybersecurity Are Driving Compliance Initiatives

Summary:

In a recent report by the Association of Corporate Counsel, a survey of chief legal counsels provided that expectations of increased regulatory enforcement, and privacy and cybersecurity, are driving organizations to dedicate more efforts to compliance. In fact, 64 percent of those surveyed responded that they expected regulatory enforcement will increase in the next year. This expectation is driving compliance efforts for these corporate leaders. According to the report, the “focus on privacy regulations across multiple countries and jurisdictions (China, European Union, United States, including California) is forcing companies to step up its compliance efforts.” How are these trends affecting companies and what are their lawyers doing to meet these compliance challenges, defend against litigation, prevent cyberattacks, and protect against fines and sanctions? According to the report, two-thirds of those surveyed plan on establishing new process(es) to increase defensibility, and over half also intend to invest in new technology and consult with third parties to limit exposure to litigation and compliance threats. (Source: Robinson and Cole)

Associated Files:

• ACC_CLOreport22_Final