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Cybersecurity, regulation and compliance, and data privacy remain the top three issues that CLOs rank as most important for their businesses overall, according to the 2022 Exterro/Association of Corporate Counsel Survey. In fact, the importance is increasing YoY.
The high importance given to these three areas aligns with CLOs' expectations that industry-specific regulations and data protection privacy rules will most likely pose the biggest legal challenges to the business. Sixty-six percent anticipate that regulations will cause the biggest legal challenges this year and 55% list data protection rules as a cause for legal concern.
But what about outside counsel? As the trusted guardian and steward of client information, law firms must have security and privacy processes that meet or exceed their clients' needs.
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