- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-05-17T17:15:00
Two SEC commissioners from opposite sides of the political aisle took slightly different positions on how to assess the liability of poor performing chief compliance officers as part of the Day 2 opening keynote at Compliance Week’s National Conference.
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The Securities and Exchange Commission’s move to classify nine cryptocurrencies as securities as part of insider trading charges it brought against a former Coinbase manager has touched a nerve with other regulators, particularly the Commodity Futures Trading Commission.
What would it look like if the SEC adopted a chief compliance officer liability framework? Commissioner Hester Peirce offered a preview in a statement regarding an enforcement action against the CCO of a formerly registered investment adviser.
Chief compliance officer concerns regarding the Department of Justice’s new certification policy have not been alleviated by the agency’s inconsistent communication regarding the requirement.
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.
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.
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.
