All CCO Liability articles – Page 3
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Article
CW2016: Putting compliance into practice
Yes, yes—companies everywhere know that having in place an effective compliance program is more important today than ever before, but how are compliance officers actually achieving that? Jaclyn Jaeger recaps this discussion from Compliance Week 2016.
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Blog
Court: Compliance Officers Must Ensure Compliance With AML Laws
A federal district court this month upheld a $1 million fine imposed against the former chief compliance officer for MoneyGram International, finding that individual officers of financial institutions, including chief compliance officers, may be held responsible for ensuring compliance with the anti-money laundering provisions of the Bank Secrecy Act.
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Blog
Aguilar Sounds Off on CCO Liability Again
Image: More shots fired this week in the continuing war of words at the SEC about whether the agency is unfairly taking enforcement action against chief compliance officers. This time, Commissioner Luis Aguilar defended the agency with a statement calling for the SEC to be more clear in its enforcement ...
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Article
Advisers Still Feel Unease Over CCO Liability Risk
Image: The conversation about personal liability for compliance officers is buzzing again, thanks to a hornet’s nest SEC Commissioner Daniel Gallagher stirred up with a complaint about recent sanctions against two CCOs. “We’re hearing similar concerns among CCOs at investment adviser firms—and not just from CCOs, but also from senior ...
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Blog
Aguilar on CCO Liability Fears: Untwist Your Knickers!
Image: SEC Commissioner Luis Aguilar has jumped into the conversation about CCO liability, rebutting “unwarranted fear in the CCO community” that the SEC is looking to take enforcement action against compliance officers at investment advisory firms. “CCOs that faithfully and reasonably fulfill [SEC requirements] are not going to be subjects ...
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Blog
Gallagher Uncorks on SEC Action Against CCOs
Image: SEC Commissioner Dan Gallagher, often a contrarian voice at the agency, spoke up again last week to denounce recent enforcement actions against compliance officers at investment advisory firms. Gallagher panned the SEC rule that dictates how investment advisers establish compliance procedures, and he railed that “the Commission seems to ...
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Article
The Real State of CCO Legal Liability
A compliance mishap in a company can feel like a professional failure to chief compliance officers; a more urgent question is whether it might also bring professional liability. At Compliance Week 2015, enforcement officials with the SEC and Justice Department, as well as compliance professionals themselves, explored how CCOs can ...
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Blog
Parting Thoughts From CW 2015
Image: The Compliance Week 2015 conference is now part of history. We had more than 560 compliance and audit professionals join us in Washington last week for three days to discuss all things ethics, compliance, audit, and risk management. Inside, editor Matt Kelly shares his thoughts on the most relevant ...
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