Compliance concerns remain high among clients

by Steve Randall30 May 2017
Compliance concerns remain high among clients
Concern about personal liability among chief compliance officers and directors remains high, a new DLA Piper survey reveals.

The law firm’s 2017 Compliance & Risk Report 2017 shows that 67 per cent of COOs are somewhat concerned and say there is significant scope for improvement in compliance’s relationship with boards of directors.

"With two-thirds of CCOs and 82 per cent of directors at least somewhat concerned about personal liability, it's important and appropriate for organizations to watch the compliance landscape very closely," said Brett Ingerman, co-chair of DLA Piper's Global Governance and Compliance practice.

Most respondents this year said that they have made changes to their compliance programs due to recent regulatory events; a year ago that was true for just a fifth.
"Political events around the world – including Brexit and the election of Donald Trump – mean the compliance picture is fluid, another reason why organizations should be vigilant about developing and maintaining strong compliance programs," added Ingerman.

CCOs say that they have increased confidence in their ability to effect change and believe that they have the resources to do their jobs.

Stephenson Harwood advises on Quantera acquisiation
Stephenson Harwood (Singapore) Alliance has advised global valuation and corporate finance adviser on its acquisition of Quantera Asia Global Holding.

The deal involved the Quantera businesses in Australia, Hong Kong, Malaysia, Singapore and Vietnam; and the restructuring of the Quantera business in the Philippines, Japan and the People's Republic of China .

Lawyers from across Stephenson Harwood’s network of offices in Asia were involved. The Stephenson Harwood (Singapore) Alliance team was led by corporate partner Tom Platts, with support from corporate associate Penelope Davey.

Lawyers may take charge of Trump’s tweets
President Trump’s love of social media may soon face new scrutiny with lawyers deciding whether to allow the president’s thoughts to make it onto Twitter.

The Wall Street Journal reports that White House officials are considering the move according to an unnamed adviser although they admit it may be hard to implement. Other measures being considered is greater use of external law firms.

The shake-up is being discussed due to allegations of the Trump campaign’s links to Russia.