Ethics and compliance a top concern for CLOs, study says

Top legal officers are seeing their budgets increase as they face new regulatory challenges, according to a new survey from the Association of Corporate Counsel

Compliance, regulatory developments, and data and information security issues are among the top challenges facing chief legal officers, according to the Association of Corporate Counsel’s (ACC) recent Chief Legal Officers 2013 Survey.

Eighty-seven percent of the 1,104 respondents said they considered ethics and compliance an important issue, followed closely by regulatory or governmental changes (82 percent) and information privacy issues (75 percent). CLOs are also concerning themselves with the business side of their companies, as 78 percent said they spent most of their time advising C-suite executives and participating in strategic corporate issues.

Alanna Byrne

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