Compliance-Article-201701181401

It’s a changing regulatory world. From the European Union’s upcoming General Data Protection Regulation (GDPR) to new cybersecurity regulations, there will be no shortage of legal work for those preparing organizations’ data managing and handling processes for heightened scrutiny.

As such a task may prove arduous for legal professionals, “Managing Information Risk in an Evolving Regulatory World,” a Feb. 1 plenary session at Legalweek New York, aims to offer a road map for tackling these compliance challenges.

Rich Lauwers, information governance and management subject matter expert at Hewlett Packard Enterprise and moderator of the upcoming plenary, noted that the session will explain what law firms and corporate counsel should be focusing on in terms of information security and client concerns over data protection.

The plenary, he added, will aim to help both law firms and corporate counsel by highlighting what industry-leading law firms and legal departments are already doing and what they may do to respond to upcoming regulatory demands from their clients.

To advise such a large audience on the many different regulations set to affect corporations in the coming months and years, the conference put together a panel that is “very diverse,” Lauwers said. “We have not only lawyers who are very comfortable dealing with [various] clients, especially in the financial service industry, but also [lawyers] in corporations that have a very diverse backgrounds and large customer sets.”

The panelists for the plenary include Kenneth Rashbaum, partner at Barton; Michael Simon, managing director at Duff & Phelps Corp.; and Martha Berek, associate general counsel for IT and corporate operations at United Technologies.

Lauwers hopes that the panel will discuss “not only generalized strategies that any organization should probably take as far as care of customer data and nonpublic information,” but also specific industry challenges, such as “figuring out some of the local insurance regulatory requirements.”

He added that understanding the most intricate and broadly applied data regulations, such as the GDPR and financial services industry regulations, can be pivotal for any legal professional, even if their clients or companies are not directly affected by them.

This is because compliance rules in broad regulations tend to “trickle down” and become standards for public companies. This, he added, “happens fairly quickly.”

Such data handling regulations and standards are also not limited to corporations. Lauwers noted that to instill confidence and attract clients, law firms will have to adhere to commonplace data handling standards as well. “I think the onus is on firms to be able to demonstrate to their clients what they’re doing, how they’re doing it, and really assist their clients in reacting in a similar way to [securing data].”

The full list of Legalweek speakers, the agenda, and a link to registration can be found on legalweekshow.com.