The American presidential election has taken shocking twists and turns: One candidate was shot and the other — the sitting president — dropped out of the race. But the U.S. isn’t alone in the potential for political volatility to affect the risk posture of organizations across the globe. In fact, high-stakes elections are planned or have already taken place in more than 50 countries. Christopher Mason and Ian Oxnevad of Infortal look at the multiple types of risks — including shifts in regulations, enforcement priorities and foreign policy — these national elections could pose.
More than half of the world’s population will head to the voting booth in 2024, not including local or regional elections that can also impact compliance programs.
Importantly, major U.S. trading partners have elections this year. Elections in Mexico, the UK, India and the European Parliament show how the outcome of the ballot box will affect everything from trade and taxation to foreign policy and sanctions enforcement. This, in turn, impacts business costs and opportunities in the U.S. and abroad.
As we’ve seen recently with the election in Argentina, long-established economic and political norms can get upended when what would normally be considered an outsider candidate is elected. In Argentina’s case,…
