- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2021-06-22T13:44:00
Despite best effort, a chief compliance officer has a lot to lose when his or her company faces enforcement. Acknowledging this as part of any potential CCO liability framework will be important to its success.
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Whether chief compliance officers have supervisory authority is key to the Financial Industry Regulatory Authority’s determination of CCO liability, the organization clarified in a regulatory notice.
A commissioner at the Securities and Exchange Commission has proposed establishing a minimum set of standards for lawyers advising public companies on securities law to combat a trend of “overzealous” representation.
The National Society of Compliance Professionals has drafted a framework that urges regulators to consider chief compliance officer liability more holistically, in the context of the compliance culture within a CCO’s firm.
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Whether you’re a multinational telecommunications company looking to certify your anti-corruption program post-settlement, or a biochemical company victimized by a “rogue” employee, seeing the light at the end of the enforcement tunnel isn’t always easy.
The biggest Compliance Fails of 2024 show the real-world consequences of noncompliance for the companies that faltered, but also for their customers and their employees.
