Pressure on business or individual? CCOs torn on DOJ certifications
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.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
PremiumSecond SEC commissioner stumps for CCO liability framework
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.
-
PremiumQ&A: Ex-DOJ official on policy changes, new CCO expectations
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.
-
Article
DOJ official hints at policy changes for off-channel communications, clawbacks
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.
More from Regulatory Policy
-
News BriefTrickle of CFPB lawsuit dismissals poised to become a flood
The Consumer Financial Protection Bureau (CFPB) has quickly become one of the most active agencies advancing the Trump administration’s pullback on prosecuting corporations, as it dropped yet another consumer protection lawsuit against a financial services company Wednesday.
-
PremiumUK’s deregulation drive raises compliance risk, say top lawyers
The United Kingdom’s latest effort to encourage regulators to pare down rules to attract companies and investment as a way to stimulate the economy has received mixed reviews from lawyers.
-
News BriefIs Google headed for a breakup? Second federal judge calls it a monopoly
A federal judge has ruled that Google “willfully engaged in a series of anticompetitive acts” in the advertising technology industry, the latest antitrust setback in what could become a string of losses for tech companies.