With 68 days to go, and a high degree of uncertainty surrounding the impact of the upcoming US presidential election, businesses are being urged to prepare now for a range of different scenarios, if they have not done so already.

Gartner is advising general counsel, in particular, to plan for shifts in regulatory risk.

“GC typically respond to major events or rulings after they occur, but, to plan ahead, GC should analyse which regulations are critical to the business, anticipate the major differences between the two potential administrations, and advise senior leaders and the board on the risks,” said Laura Cohn, director of research in Gartner’s legal and compliance practice. “Stakeholders will want to know the risks and be prepared for them, no matter what the outcome of the election is.”

Given the differences in regulatory philosophies held by each political party, Gartner recommends GC determine which regulations and policies are most critical to the organisation; and where there is a likely and significant difference between the possible administrations.

To prepare for election results well before voters go to the polls, GC should use existing regulatory tracking systems to map out the risks and potential changes, prioritising which regulations are most critical to the business, Gartner advises.

Companies face a range of risks from political polarisation – legal, regulatory and economic. While some are systemic, meaning they would have an impact on organisations regardless of election outcomes, others are contingent on election results.

---