Compliance professionals have come under increasing scrutiny from regulators in recent years. Some in the public feel that compliance officers must be held to the standard of being the first and best line of defense in consumer protection. Others feel that compliance officers are forced to endure undue criticism for failing to detect, prevent or otherwise remedy purported wrongdoing of others. Whatever one’s position, it seems safe to assume that regulatory focus on firms’ compliance procedures and personnel will not ebb any time soon.
Peter Boutin and Chris Stecher of Keesal, Young & Logan’s San Francisco office recently authored an article published by the National Society of Compliance Professionals in its February 2016 edition of NSCP Currents. The article addresses recent speeches by SEC enforcement personnel and analyzes several recent enforcement actions against compliance personnel.
Linked here with permission from the NSCP is a reprint of the article.
– Keesal, Young & Logan Securities Group
This information has been prepared by Keesal, Young & Logan for informational purposes only and is not legal advice. Transmission of the information is not intended to create, and receipt does not constitute, an attorney-client relationship between you and Keesal, Young & Logan. You should not act upon this information without seeking professional counsel.