find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
More regulation a worry for in-house counsel

More regulation a worry for in-house counsel

Australian in-house counsels are far from confident of their ability to deal with an expected sharp increase in regulator activity. An overwhelming 72 per cent of in-house counsel practitioners…

Australian in-house counsels are far from confident of their ability to deal with an expected sharp increase in regulator activity.

An overwhelming 72 per cent of in-house counsel practitioners expect to see an increase in regulator activity in the next 12 months, and yet two-thirds (62 per cent) are not confident they could identify and produce all relevant electronic documents in response to a legal or regulatory production request.

The findings are part of Deloitte's In-house Counsel Survey, which interviewed 209 in-house lawyers from the Australian private and public sectors.

"Given the current economic conditions, this result does highlight the need of corporates to look at ways they should prepare for and manage the process," says Deloitte Forensic Data Practice lead partner, Nicholas Adamao. "The anticipated increase in the level of regulatory enquiry is consistent with local and international governments demanding regulatory bodies utilise their investigative and enforcement powers in the wake of the global financial crisis.

"The pressure to deal with regulatory compliance typically falls on the shoulders of in-house counsel. Given the tight timelines for compliance, many may find they are not able to meet those deadlines nor suggest how long it may take for them to put forward their case."

According to Adamao, sound management should include putting the right systems and processes in place to facilitate document production, and if necessary engaging external consultants to assist.

Interestingly, 20 per cent of survey respondents cited providing regulatory compliance legal advice as one of the busiest areas of their legal practice. They also believed that the demand for advice about regulatory compliance will increase in the next 12 months.

In addition, more than half of respondents (56 per cent) indicated that their organisation has been required to produce documents in electronic form in the past 12 months.

"This figure is quite high, and may become even higher in the next 12 months," Adamao predicts.

However, the cost of electronic discovery remains a key concern. More than half of respondents (53 per cent) believed that electronic production and discovery will increase the costs of litigation.

- Mark Phillips

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

More regulation a worry for in-house counsel
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
06:04
‘Ego status’ compelled ex-lawyer to defraud $2.97M, court told
Debarred lawyer John Gordon Bradfield told an NSW District Court that he was driven by “ego status...
Australian Lawyers Alliance (ALA), Queensland’s new industrial manslaughter legislation,
06:03
ALA welcomes ‘tough’ Qld manslaughter laws
The Australian Lawyers Alliance (ALA) has welcomed Queensland’s new industrial manslaughter legisl...
Legal podcasts, tune in, microphone
06:00
Legal podcasts you have to tune in to right now
The rise of the internet has hailed in a new dawn for storytelling. Here’s our top pick of podcast...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...