Compliance Chiefs Feeling The Squeeze As Budgets Stagnate
Law360 (February 5, 2020, 5:26 PM EST) -- Investment in compliance teams has slackened at major firms worldwide, but emerging regulatory challenges, new technologies and an expected surge in major corruption investigations are keeping in-house legal teams up at night, according to new survey data from a top international law firm.
Only 41% of 700 chief compliance officers and heads of legal interviewed by Hogan Lovells for a report published Tuesday said their departments’ budgets had grown over the past three years, compared with nearly 90% in 2016. At the same time, compliance chiefs fear firms are expanding into high-risk markets with anti-bribery and corruption programs that may not...
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