By Aaron Nicodemus2023-10-25T20:09:00
The head of enforcement at the Securities and Exchange Commission (SEC) outlined the scenarios in which the agency would charge a chief compliance officer for securities law violations.
Gurbir Grewal told an audience of compliance professionals in remarks delivered Tuesday at the New York City Bar Association’s Compliance Institute the agency only brings actions against compliance officers in certain specific situations.
“The short answer is that we do not second-guess good faith judgments of compliance personnel made after reasonable inquiry and analysis. That is why such actions are rare,” he said.
The agency would consider charges in three circumstances, he said:
2024-10-28T21:51:00Z By CW Staff
Gurbir Grewal, who recently left the Securities and Exchange Commission after three years as head of its Division of Enforcement, has joined the law firm Milbank as a partner in its New York office.
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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?
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A big year for disgorgement helped the Securities and Exchange Commission to its second highest total of financial remedies ordered in a single year in fiscal year 2023.
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The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
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Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
2025-09-10T22:24:00Z By Adrianne Appel
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
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