The strategy and demeanor of a general counsel (GC) can decisively sway the outcome of a regulatory issue. This position was articulated by Australia’s financial industry regulator at the 9th Annual General Counsel Summit in Sydney on August 7, 2023.
Sarah Court, the Deputy Chair of the Australian Securities & Investments Commission (ASIC), during her keynote address, shared her preference for engaging directly with a company through its general counsel. In these situations, instead of using ASIC’s external lawyers, she opts for a more direct line of communication.
This signifies a shift towards GCs playing more instrumental roles in the resolution of regulatory matters, requiring them to develop robust approaches and a flexible, adaptive personality to navigate complex legal landscapes.
For legal professionals around the globe, these remarks highlight the mounting importance of the GC role in corporate legal departments. Success in this position may increasingly depend on personal traits and strategic acumen, potentially reshaping the professional outlook for company legal advisors, particularly those navigating tightly regulated industries.
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