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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-12-12T13:00:00
The liability of chief compliance officers is top of mind with U.S. compliance professionals, thanks in part to the action (and inaction) of the Department of Justice (DOJ) and Securities and Exchange Commission (SEC).
Compliance professionals responding to Compliance Week’s fourth annual “Inside the Mind of the CCO” survey were asked their opinion regarding the DOJ’s new requirement CCOs certify, along with the chief executive officer, a company’s compliance program is reasonably designed and implemented to help detect and prevent violations of the law at the end of the term of an agreement with the agency. A total of 254 respondents were also asked to weigh in on the SEC’s unwillingness to implement a CCO liability framework.
Of the compliance professionals who answered the survey question, 59 percent said the DOJ’s new CCO certification requirement is a positive development for the profession. The remainder said it was not.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
Register for free
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2023-10-18T14:31:00Z By Aaron Nicodemus
SEC Commissioner Mark Uyeda 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.
2023-01-26T17:01:00Z By Aaron Nicodemus
Scott Hulsey, partner at Barnes & Thornburg, former federal prosecutor, and a former chief compliance officer, discusses with Compliance Week how CCOs should respond to the Department of Justice’s recent policy changes regarding corporate crime.
2022-12-02T21:00:00Z By Aaron Nicodemus
The Department of Justice is considering issuing new guidance regarding companies’ record-keeping obligations for employees’ use of personal cell phones to conduct corporate business, as well as executive compensation clawback policies.
2024-07-24T15:50:00Z By Aaron Nicodemus
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
2024-07-23T12:29:00Z By Ruth Prickett
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
2024-07-22T15:50:00Z By Aaron Nicodemus
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
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