If there was one theme from Compliance Week 2016 it was the continued evolution of the role of the chief compliance officer and the compliance profession. Long gone are the days when someone is sent over from the legal department into the compliance department or worse, some lawyer who is just given the title of chief compliance officer and this is considered a best practice or even sufficient. Representatives from the Justice Department and Securities and Exchange Commission made clear they expect a CCO to know more than simply the laws of anti-corruption but to actually work at compliance in an organization.
Interestingly another session entitled “Remediation, Cooperation and Other Good Times in an FCPA Investigation” featured three compliance professionals who have had the experience of making presentations to the Justice Department where the new Compliance Counsel Hui Chen was present. They were Dan Chapman, formerly of Cameron International and Parker Drilling, Kurt Drake, SVP & chief compliance officer at General Cable, and Rob Sacasa, VP compliance at General Cable.
