By Aaron Nicodemus2023-10-18T14:31:00
A second commissioner at the Securities and Exchange Commission (SEC) called for the agency to establish a framework that would describe scenarios in which a chief compliance officer would be held liable for securities law violations made by their firm.
In a speech delivered Monday at an industry event, SEC Commissioner Mark Uyeda urged regulators to “clearly describe the circumstances under which a CCO will be held liable for a firm’s violations of the federal securities laws.”
He noted the SEC’s lack of a CCO liability framework “has been the source of a great deal of concern” for compliance officers, particularly given the flood of new regulations the commission has either implemented, approved, or placed in its pipeline.
2025-01-22T16:13:00Z By Aaron Nicodemus
A recent complaint by the Securities and Exchange Commission 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.
2024-05-01T14:00:00Z By Amii Barnard-Bahn
Despite significant issues outside the control of most chief compliance officers, some regulators have signaled more individual liability cases are to be expected. Will accepting the wrong job, in hindsight, make it your last?
2024-04-09T20:33:00Z By Adrianne Appel
Hester Peirce of the Securities and Exchange Commission said the agency should form an advisory committee comprised of chief compliance officers as part of a wide-ranging critique of the agency’s efforts to engage with the public.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
2025-10-06T16:46:00Z By Aly McDevitt
A single $33,000 shipment to Iran triggered a six-figure penalty and years of compliance oversight for biotechnology company LuminUltra Technologies, Inc.
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