Norton Rose Fulbright’s 2025 Annual Litigation Trends Survey indicates that regulatory activity increased significantly over the past year, with 70% of respondents involved in at least one regulatory proceeding in 2024, compared to 61% who said the same in 2023.
The average number of proceedings per respondent grew to 4.4, up from 3.9 last year, while the median number went from one to two. Reflecting this bump in activity, 35% say their regulatory dispute exposure grew in 2024.
Given potential changes in the regulatory environment, 45% of respondents expect regulatory investigations and proceedings against their organization to increase slightly or significantly over the next 12 months, while more than a third (38%) expect it to stay the same in the months ahead.
This is an even more pronounced concern among high-revenue companies, with the majority of those with more than US$1 billion in revenue anticipating a slight (33%) or significant (27%) increase. Approximately one third (32%) of respondents expect to see regulatory and investigations-related litigation in 2025, too – making it the third most widely anticipated category.
In the US, respondents who anticipate increased regulatory exposure are relatively evenly split on whether federal (45%) or state (46%) regulatory changes will most impact their businesses in the next 12 months. A second Trump administration, new governors and shifting statehouse majorities all promise to bring significant regulatory and legislative departures from the 2024 environment.
Four in 10 respondents from the US and Canada who anticipate more regulatory exposure are concerned that recently passed or potential laws and regulations could heighten their company’s litigation risk in 2025.
Corporate counsel also note a growing trend of cooperation among regulatory bodies and even across borders to strengthen regulatory and enforcement actions.
Download the 2025 Annual Litigation Trends Survey report for more details.
