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Rethinking regulatory risk: a strategy for the UK and global corporate governance

Rethinking regulatory risk: a strategy for the UK and global corporate governance UK companies face an increasingly aggressive regulatory environment. A recent study by the LSE shows that UK directors are ill‐equipped to deal with increasing regulatory risk. While they are aware of these growing risks, almost a third of boards do not know about the activities in their companies that could lead to a regulatory intervention. Less than one in five are “very confident” in their risk management processes. UK companies also fail to effectively monitor and influence new regulations. Businesses need to adopt a proactive approach to handling these risks, acting at all stages of the regulatory cycle. By doing so, they can afford themselves a competitive advantage, and reduce the chances of facing severe corporate and personal penalties. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Balance Sheet Emerald Publishing

Rethinking regulatory risk: a strategy for the UK and global corporate governance

Neil Gerrard
Balance Sheet , Volume 11 (1): 5 – Mar 1, 2003
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Publisher
Emerald Publishing
Copyright
Copyright © 2003 MCB UP Ltd. All rights reserved.
ISSN
0965-7967
DOI
10.1108/09657960310476863
Publisher site
See Article on Publisher Site

Abstract

UK companies face an increasingly aggressive regulatory environment. A recent study by the LSE shows that UK directors are ill‐equipped to deal with increasing regulatory risk. While they are aware of these growing risks, almost a third of boards do not know about the activities in their companies that could lead to a regulatory intervention. Less than one in five are “very confident” in their risk management processes. UK companies also fail to effectively monitor and influence new regulations. Businesses need to adopt a proactive approach to handling these risks, acting at all stages of the regulatory cycle. By doing so, they can afford themselves a competitive advantage, and reduce the chances of facing severe corporate and personal penalties.

Journal

Balance Sheet – Emerald Publishing

Published: Mar 1, 2003

Keywords: Regulations; Risk; Risk management; Compliance; Corporate governance

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