Event report
In-house lawyers must promote ethical
corporate behaviour
General counsel are responsible for
raising awareness of business ethics
among management and boards of
directors
In-house lawyers need to become
“guardians of business ethics”
and promote ethical corporate
behaviour, in addition to ensuring
compliance with the law, heard
attendees at Iberian Lawyer’s
recent Law2Biz event in Madrid.
Participants also heard that
legal and compliance teams have
moved beyond their traditional
roles, and are now required
to add value to the board and
management of a company, as
well as contributing to developing
cutting-edge strategies and being
involved in critical decisionmaking.
However, managing
underlying legal and regulatory
risks while pushing for business
efficiency – in addition to
managing day-to-day issues – is
a major challenge for in-house
lawyers and compliance officers,
the event heard. Attendees
highlighted problems including
a lack of resources as well as
resistance to implementing good
Event: Iberian Lawyer Law2Biz:
Competitive edge – Legal and
compliance as key drivers of
competitive advantage
Location: Madrid
In collaboration with: ABBC, Araoz
& Rueda, Deloitte Legal, DLA Piper,
Hunton & Williams, iManage, Lexsoft,
Samsung, Vieira de Almeida
governance and compliance.
Participants said companies
should have a duty to “do the
right thing while following a code
of conduct beyond the law”.
New regulations could
be implemented to compel
companies to put into practice
solid compliance policies,
www.iberianlawyer.com
regardless of company size and
budget, it was suggested. In
addition, legal education with
an emphasis on business ethics
and greater awareness of social
concerns and pressures will also
efficient, technology is crucial.
In-house lawyers, as well as those
in private practice, are using
technology more than ever before
to outsource lower-level work,
streamline workflows and develop
alternative legal structures and
staffing models.
The ongoing pressure to
offer “more for less” is driving
Lawyers are increasingly using technology to outsource lower-level work
raise the level of compliance,
attendees heard. Meanwhile, it
was stressed that, with regard to
risk management, the role of legal
and compliance teams is to “keep
ahead” of the issue and educate
boards and management about
correct procedures to follow.
The event heard that
globalisation brings both benefits
and challenges for in-house
lawyers and compliance officers,
particularly when it comes to
cross-border transactions and
disputes. Lawyers need to
adapt to cross-border deals and
develop the capacity to deal
with management, boards and
workforces spanning the globe,
participants said. Key to success
is clear and transparent contracts
and policies. Meanwhile,
creating a corporate culture that
incorporates business ethics –
while benefitting from diversity
in people and language – is
beneficial when going global,
attendees were told.
In the drive to become more
legal teams to become even
more profitable and technology
remains the key factor to achieve
efficiency, participants concluded.
While technology brings risks,
Enrique Aznar, VimpelCom
compliance and legal teams
can foster a company culture
which prevents cyber security
wrongdoing and data breaches,
attendees heard.
November / December 2016 • IBERIAN LAWYER • 11