- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Amii Barnard-Bahn2024-05-01T14:00:00
It’s largely impossible to effectively assess an organization’s culture of compliance prior to taking a chief compliance officer job. And yet, regulators’ growing interest in holding CCOs responsible for company misconduct has understandably raised anxiety for would-be compliance chiefs.
They might be asking themselves questions like:
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Companies would be wise to prepare to comply with the Federal Trade Commission’s rule to ban noncompete clauses, despite legal challenges that might delay or prevent it taking effect altogether.
Caroline Pham of the Commodity Futures Trading Commission said she expects the regulator to pursue more individual liability cases against chief compliance officers, in the aftermath of landmark charges laid against the former CCO at Binance.
Gurbir Grewal, head of the Enforcement Division at the Securities and Exchange Commission, outlined the scenarios in which the agency would charge a chief compliance officer for securities law violations.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
