A recent complaint by the Securities and Exchange Commission (SEC) against the chief compliance officer of a Chicago-based investment firm contains some of the most worrisome examples of how CCOs can be found liable for misconduct at their firm.

Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...