In the corporate governance literature, there is relatively little discussion about the corporate secretary, a key information intermediary for the read more Do legal risks rise when the corporate secretary is also the chief legal officer?
The study investigates whether having the corporate secretary also serve as the chief legal officer (CLO duality) increases legal risks for organizations. CLO duality presents potential conflicts of interest, where legal strategies may lack independent scrutiny. Conversely, it offers benefits such as enhanced risk management, timely legal advice to the board, and proactive implementation of measures to reduce legal risks due to the CLO's deep familiarity with regulatory requirements and internal processes. The analysis examines the relationship between CLO duality and legal outcomes like shareholder litigation, regulatory violations, and financial penalties.
