- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-03-23T15:22:00
What is compliance resiliency, and why is it crucial for your organization to have it? Recent enforcement examples demonstrate why mapping out a clear business continuity plan can help thwart a risky management reshuffle.
Compliance resiliency is the process of thoughtfully ensuring a firm’s compliance function is not compromised or weakened by the absence of a key employee. That employee might be the only full-time compliance officer in the company, or their compliance responsibilities might be siloed in such a way that no one else knows exactly what they’re doing and how they’re doing it.
A small Puerto Rican bank and a New York-based investment adviser were recently subject to enforcement actions due in part to their failure to understand and plan for the unexpected departure of a key compliance officer.
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Regulators are collaborating—both domestically and internationally—more than ever before. And they expect companies to be doing the same, noted panelists during a session on collaboration between compliance and human resources at Compliance Week’s 2023 National Conference.
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The Department of Justice’s renewed scrutiny toward a corporation’s approach to the use of personal devices strengthens the case for companies to get away from bring your own device, a panelist at Compliance Week’s 2024 National Conference argued.
Compliance failures in the supply chain are hampering organizations’ efforts to implement environmental, social, and governance initiatives and meet disclosure requirements, according to a new report by U.K. law firm Burges Salmon.
Examiners with the Securities and Exchange Commission found investment advisory firms have generally done well creating processes to comply with the agency’s amended marketing rule but some have fallen short in ensuring compliance.
