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Survey: Overloaded CCOs Expect Increased Personal Liability

Joe Mont | May 13, 2015

Compliance officers have two fears likely to come true in the months ahead: increased regulatory fatigue and overload; and the threat of increasing personal liability. Those observations come from the latest edition of Thomson Reuters’ annual “Cost of Compliance Survey.”

“After several difficult but broadly speaking positive years for compliance functions, the 2015 findings show the first warning signs of potentially serious resource constraints,” the study says.

“The pendulum needs to begin to swing back at least in part toward the business itself to allow for business improvement and development, rather than having all change capacity and capability taken up by regulatory issues,” it adds. “That is not to say that boards should lose their focus on regulation and the need for a compliant “tone from the top”, but it needs to be brought back into balance with managing the business...

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