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CCOs feeling the heat of regulatory scrutiny

Jaclyn Jaeger | May 17, 2016

Increasing regulatory scrutiny and the threat of personal liability has compliance officers feeling especially vulnerable, fears that have grown only more intense with the newly established compliance counsel role within the Department of Justice’s Fraud Section.

Those observations come from the findings of a recent survey conducted by law firm DLA Piper, “CCOs under Scrutiny,” which captured the attitudes and perceptions of compliance officers immediately following the appointment of Hui Chen—former global head of anti-bribery and corruption at Standard Chartered Bank—to the newly established role of compliance counsel within the Fraud Section of the Justice Department’s Criminal Division. 

“Chief compliance officers certainly have a heightened sense of awareness, given what is happening in Washington,” says Brett Ingerman, co-chair of DLA Piper’s global governance and compliance practice and lead author of the survey. This anxiety stems from a convergence of factors...

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