How to keep up with regulatory risk

How to keep up with regulatory risk

Technology law is no longer just applicable to tech companies, says Lewis Crofts, Editor-in-Chief at investigative regulatory news site, MLex. “It's now an issue for all industries.”

For the last decade and a half Crofts has taken a front-row seat commenting on digital transformation and the knock-on effect it’s had on regulatory risk and the legal sector – and he’s adamant that we’re at a digital crossroads.

“The digital revolution is rolling out to all parts of the economy and all parts of industry,” Crofts points out. “The kinds of stories we've been writing about for a decade now are colliding with other sectors, such as the health industry, or with financial services, or with transport and logistics.”

Find out more about MLex here

Regulatory risk just got a whole lot riskier

The next phase of the of the digital revolution will see the transformation of some of the older industries or heavier industries, says Crofts.

“Banks are trying to work out what it means when they've got new competitors in tech giants like Google, Apple or Facebook, and things like cryptocurrencies.”

“Carmakers are coming to terms with the fact that their cars are basically massive computers that someone could hack or that can be used to gather data which can be fed back to insurers or to streetlights.”

“Energy regulators trying to wean us off the combustion engine over the next ten to twenty years need to encourage the rollout of electricity charging stations or encourage the take up of technology in cars.”

Free download: Epic Games vs Apple Ruling special MLex report

The implementation of this new technology means a whole new set of laws to abide by, says Crofts. “Technology such as safe systems and licensed technology, licensed patents, speedy connections, and the gathering of data are no longer just tech issues, they’re issues for all industries and companies.”

The globalisation of risk

Not only has digital transformation led to a change in subject matter for the team at MLex, it has also created a change in readership, says Crofts.

“Law firms have to find information from all different places and parts of the world – from countries, regulators and courts where you could have joint investigations, and litigation which is having an effect in Australia, or California, or the UK.”

Telling that global story helps legal readers, but is it also helps corporations, as most major 21st century companies of note are probably active in many, many different countries, Crofts notes.

“If you are a corporation undertaking a merger, you might have to notify people in twenty, thirty or forty different countries. If you're a carmaker, you might have to transfer data that a car gathers from a street in Munich back to your headquarters in Tokyo.”

This is something Crofts refers to as the globalisation of risk.

Investment companies are doing their homework

Crofts also highlighted a third group of readers that are particularly interested in regulatory risk news – investment companies.

“Investment companies are interested in looking at corporations exposed to the greatest risk – those that are going to be forced to change their business models, or miss out on major deals, or face litigation.”

Crofts says these investment readers are often very sensitive and sophisticated in their approach. “We're seeing investors use MLex to identify their best bet in this rather complicated new environment.”

Tools to keep up with regulatory risk news

To keep up to date with regulatory risk news and updates, you’ll need to:

  • Keep an eye on government websites, like the UK’s Financial Conduct Authority (FCA), or the EU’s European Banking Authority (EBA), or America’s Federal Reserve. Tools like Feedly can help you easily keep track of news and updates by pooling these sources into one feed
  • Join associations or attend industry events
  • Sign up to regulatory risk news sites

To expand on the last point, for access to informative, in-depth and well-research content that you can actually rely on and put to use, you’ll need a credible news partner (you cannot rely on free sources alone).

MLex is one of the best regulatory new sites on the market, allowing you to browse the latest content by your area of interest, from antitrust, to mergers and acquisitions, to privacy and data security, to financial crime, to trade, to financial services sector regulations, to state aid.

“We started in Brussels around 15 years ago and now we're all around the world – Sao Paulo, Hong Kong, America, Australia,” says Crofts.

“We write the in-depth, nerdy stories that might not appear elsewhere. The stories that take a long time and need good sourcing and a good understanding of the law,” he says, saying they get scoops about companies under investigation, or facing the risk of selling off assets or getting fined, or having to change their businesses.

Here’s why you need access to MLex’s regulatory risk insights and report




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About the author:
Dylan is the Content Lead at LexisNexis UK. Prior to writing about law, he covered topics including business, technology, retail, talent management and advertising.