In-house lawyers in Europe and the United States face many similar challenges. However, there are issues unique to Europeand specifically the European Unionthat demand particular attention from the general counsel of multinational businesses. Several of these concerns were addressed at the 2012 European General Counsel Forum, held in London and hosted by Consero Group, a Bethesda-based senior-level executive event company I co-founded in 2010. Among the most pressing issues were the following trio of challenges:
1. The Deferred Prosecution Agreement
Long a major source of revenue for the U.S. from fines that replace criminal prosecution, and a relatively new addition to the U.K. regulatory landscape, deferred prosecution agreements are on the way to the rest of Europe. General counsel should be focused on the looming arrival of these costly alternatives to corporate criminal prosecution, devoting time and effort to educating their colleagues on the latest reason to prevent wrongdoing, and preparing senior leadership within and outside of Europe for the potential of severe financial impact if improprieties occur.
