Risky Business
GC partnered with Freeths to conduct a survey to assess the current risk landscape for businesses in the UK, with a particular focus on litigation and regulatory factors. The research considered the thoughts and opinions of more than 200 UK-based general counsel on assessing risk, as well as the various roles their organisation expected them to play in managing risk, and the structures in place to support them.
Setting the agenda
For the vast majority of organisations in the UK, the appetite for risk remains a factor that is set at the board level, as reported by 76% of those who took part in our research. While an increasing number of general counsel do have a seat at the board, the tendency to split the general counsel and company secretary roles in the UK – more so than in other jurisdictions – means that while most will offer an advisory role, direct input into the final decisions on risk appetite remains the exception, rather than the rule.
