- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-03-18T17:34:00
Whether chief compliance officers have supervisory authority is key to the Financial Industry Regulatory Authority’s determination of CCO liability, the organization clarified in a regulatory notice.
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The Financial Industry Regulatory Authority increased penalties for member violations of securities rules, including removing upper limits on fines for certain instances of misconduct.
Communication between the Securities and Exchange Commission and the compliance community is not happening as robustly as compliance practitioners would like. The result is compliance officers are more concerned than ever the agency will target them in an enforcement action.
The National Society of Compliance Professionals has drafted a framework that urges regulators to consider chief compliance officer liability more holistically, in the context of the compliance culture within a CCO’s firm.
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
