Risk, Compliance, Data Privacy, and Regulatory Changes Named Top Concerns for Global Chief Legal Officers
Washington, D.C., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Legal department leaders worldwide are taking more strategic ownership across their organizations and expanding their influence outside the legal department, according to the 2025 ACC Chief Legal Officers Survey, released today by the Association of Corporate Counsel (ACC), in partnership with FTI Consulting, Inc. (NYSE:FCN). The survey fielded by ACC is now in its 26th year and provides detailed analysis of the evolving role of the Chief Legal Officer ("CLO") position and year-over-year trends related to legal departments' involvement in helping organizations adapt to a demanding business environment.
The report, featuring responses from 772 CLOs globally, highlights an increasing focus among CLOs on operational efficiency, technology adoption, and improving their team's impact on business objectives. As organizations grapple with data privacy, cybersecurity, and regulatory compliance risks, CLOs are prioritizing talent development and future skills including business acumen, technological fluency, and industry-specific expertise.
Key findings from the survey include:
- A significant majority of CLOs oversee multiple functions outside of legal. Seventy percent manage at least two additional areas such as risk, compliance, privacy, and ethics. Additionally, 58% are heavily involved in mergers and acquisitions and other corporate transactions, and 44% believe advising the CEO and shaping business strategy to be their greatest impacts on their organization.
- Many CLOs report increased volume, cost and complexity of disputes and investigations. Forty-four percent reported an uptick in litigation volume, 42% have seen a rise in internal investigations, and external investigations have increased for 24%. More than one-third said litigation is increasingly complex, while litigation costs have grown for 60%. Internal and external investigation costs have increased for nearly 30% of respondents, respectively.
- Regulatory investigations are a persistent concern among CLOs. More than 70% said their greatest regulatory concern is industry-specific enforcement, followed by labor and employment-related issues (37%) and third-party risk management enforcement (35%). Among larger companies, concerns centered around antitrust (41%) and AI regulatory enforcement (26%). Global regulatory change was also attributed as one of the primary drivers behind the expected increase in the use of outside counsel among 43% of CLOs surveyed.
- Internal resourcing is a significant challenge. When asked about the biggest barriers facing their legal departments, respondents identified understaffing as the primary challenge, and 30% plan to increase the number of lawyers they hire this year. Among the largest companies surveyed, that number jumped to 50%.
- Technology implementation continues to be a focal point for legal departments. Forty-four percent of CLOs plan to adopt new legal technology to improve efficiency in the next year. This percentage is higher among CLOs in Europe and those in larger companies, with the most frequently cited technology initiatives being contract management (62%), document management (32%), and workflow tools (26%).
"The 2025 ACC Chief Legal Officers Survey offers valuable insights into the challenges CLOs are confronting worldwide," said Veta T. Richardson, ACC President & CEO. "CLOs are key strategic business partners, their responsibilities beyond legal roles are growing, and they are assuming greater leadership across organizations. This is happening amid numerous internal and external challenges, such as a complex regulatory landscape, geopolitical instability, and mounting budget pressures. Through it all, CLOs continue to demonstrate resilience, creativity, and critical thinking to help their organizations successfully navigate an ever-changing business environment."
"Over the past two years, legal departments have become much more sophisticated and targeted in their approach to technology," said Sophie Ross, Global CEO of FTI Technology. "By understanding the importance of and investing in a combination of technology, expertise and process improvement, CLOs are seizing the opportunity to make an impact in their organizations during a time of immense change and rising risks. This survey's findings underscore many of the trends we've seen among our clients, wherein legal department leaders are taking meaningful action to mitigate digital risks, improve legal department efficiency, and solve challenges stemming from the increasing volume, cost and complexity of investigations."
The survey analyzed data from 772 CLOs across 20 industries and 48 countries.
The global survey can be found here. Supplemental reports comparing regional-specific data to the global results are available for Europe and Australia. For complimentary press access only to the reports, please contact Dan Weber ([email protected]) or Ashley Allman ([email protected]).
ACC will host a live webinar to discuss the 2025 ACC CLO Survey results on February 12 at 12 p.m. EST. Please contact Dan Weber to register.
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About ACC
The Association of Corporate Counsel (ACC) is the premier global legal association that promotes the common professional and business interests of in-house counsel who work for corporations, associations and other organizations through information, education, networking, and advocacy. For more than 40 years, ACC has set the standard for in-house counsel and raised awareness regarding the value of the chief legal officer in the C-suite and boardroom. With more than 48,000 members employed by over 12,000 organizations and spanning 117 nations, ACC connects its members to the people and resources necessary for both personal and professional growth. By in-house counsel, for in-house counsel® remains the foundation for ACC's market leadership. For more information, visit https://www.acc.com/ and follow ACC on LinkedIn, Twitter, and Facebook.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 8,300 employees located in 34 countries and territories, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $3.49 billion in revenues during fiscal year 2023. In certain jurisdictions, FTI Consulting's services are provided through distinct legal entities that are separately capitalized and independently managed. More information can be found at www.fticonsulting.com.
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Dan Weber Association of Corporate Counsel 2026961557 [email protected]
