USA Law and Practice Contributed by: Jeff McAndrews, Megan Bouchier and Peter Gardner, FGS Global
2.3 Government Role Integrating Government Affairs Into Crisis Management Whether regulatory officials or elected repre- sentatives, the government at the federal, state and local level can often plays a significant role in crisis management and preparation, particu- larly for regulated industries that are inherently closely connected with governmental entities. The specific agencies involved will depend on the nature of the crisis, but every crisis response framework should include government affairs and these specific audiences as key stakehold- ers. Bringing in an experienced government rela- tions team helps ensure all communications or other response protocols are filtered through the lens of this important constituency, protecting a company’s reputation among – and relationship with – these authorities. 2.4 Independent Oversight Oversight by Public and Private Bodies Some of the government agencies and regu- latory bodies that oversee crisis management preparedness for companies and public bodies include the Federal Emergency Management Agency (FEMA), the Securities and Exchange Commission (SEC), the Cybersecurity and Infra- structure Security Agency (CISA), and the Fed- eral Reserve & Office of the Comptroller of the Currency, which ensures that financial institu- tions maintain contingency and disaster recov- ery plans. Some industry and private sector organisations that serve in the same capacity across vari- ous industries include the Business Continuity Institute (US Chapter), the American National Standards Institute’s National Emergency Man- agement Standards and the Financial Stability Oversight Council.
various stakeholders can help mitigate future crises. 1.3 Post-Crisis M&A M&A activity tends to fluctuate during corpo- rate crises, with some companies leveraging the moment to acquire assets at lower valuations. There are numerous examples of this in recent US history, including during the dot-com bubble burst, the 2009 global financial crisis and the COVID-19 pandemic.
2. National Legal Framework 2.1 Legal Framework Integrating Legal Counsel Into Crisis Management
Every issue is different and will have its own set of legal and regulatory considerations in the USA. For example, in a cybersecurity incident, there are multiple sets of obligations at the state, federal, and even contractual level that dictate how an organisation must respond or disclose information. Understanding such laws, and how they apply to the situation at hand, is critical and necessitates deep collaboration with legal teams. Furthermore, a crisis incident in and of itself will often lead to litigation, regulatory scru- tiny, or an enforcement action. This is why any organisation facing a crisis must have in-house and outside legal counsel as part of their core crisis team, not only to address compliance with the law itself, but also to consider and mitigate potential future liability risks. 2.2 Expected Legal Updates There is no applicable information in this juris- diction.
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