Behind the SEC's Recent Crackdown on Compliance Officials

On June 18, 2015, SEC Commissioner Daniel Gallagher wrote in a statement placed on the SEC website that the SEC was sending a "troubling message": Chief compliance officers (CCOs) should not take ownership of their firms' compliance policies and procedures, lest they be held accountable for conduct that is not really their responsibility.

10 minute read September 01, 2015 at 11:49 AM
By
H. David Kotz
Behind the SEC's Recent Crackdown on Compliance Officials

Recent comments by Securities and Exchange Commission (SEC) Commissioner Daniel Gallagher were noteworthy for both their candor and the subject he raised.

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