Legal risks have also significantly increased over the past years as a consequence of the crisis, says Pablo García Montañés, Manager of Regulatory Compliance at Deloitte in
, plus the fact that law firms haven’t been giving the compliance issues the weight they deserve. “Compliance is not just a back-office function as it plays a relevant role in terms of advance impacts on business, which can result in saving millions for the business.” Madrid
However, one has to be cautious in how proactive you are with clients, warns Giménez at Linklaters in
. Lawyers don’t want to be seen as researchers but instead as advisers capable of identifying the key regulatory issues that may impact their clients´ business, adds Montañés at Deloitte in Madrid . At the end of the day, however, it is only when a business is concerned about compliance that they are more open to accept a proactive strategy from their lawyers, says José Luís Esquível, Partner at Esquível Advogados in Lisbon. Madrid
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