IMP Managing Director - Compliance, Gigi Szekely, was recently interviewed for a on the topic of CCOs fears. Read a short snippet below:
The Securities and Exchange Commission’s (SEC) top enforcer has defended the regulator’s actions against chief compliance officers (CCOs) in response to industry concerns that compliance personnel may unfairly fall within the regulator’s crosshairs.
Speaking Wednesday to a trade body of compliance professionals, Andrew Ceresney, director of the SEC’s Division of Enforcement, stressed that the Commission will target enforcement actions against CCOs at asset managers (and other firms that fall under the SEC ’investment advisors’ definition, including wealth managers) in situations where compliance personnel are involved in breaking the law, covering up abuses, or clearly fail in implementing appropriate policies.
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