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White: SEC Enforcement Not Targeting Compliance Professionals

Joe Mont | July 15, 2015

The message from Securities and Exchange Commission Chairman Mary Jo White to compliance officers: keep calm and carry on.

Speaking to an audience of nearly 1,000 compliance officers from financial services firms and broker-dealers on Tuesday at a “Compliance Outreach Program” sponsored by the Commission, White weighed in on the consternation many of those professionals have expressed about personal liability and potentially being targeted for enforcement actions.

“To be clear, it is not our intention to use our enforcement program to target compliance professionals,” White said. “We have tremendous respect for the work that you do. You have a tough job in a complex industry where the stakes are extremely high. That being said, we must, of course, take enforcement action against compliance professionals if we see significant misconduct or failures by...

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