In-House Compliance Counsel Leading Push for More Guidance From Regulators (New York Law Journal)
New York Law Journal, February 10, 2020
In-House Compliance Counsel Leading Push for More Guidance From Regulators
A new report from the New York City Bar Association on the increased number of enforcement actions against individual chief compliance officers was sparked by the growing concerns of in-house counsel. The report, “Chief Compliance Officer Liability in the Financial Sector,” is a product of the bar’s compliance committee. Patrick Campbell, chair of the committee, said while he is an outside counsel, most of the committee is made up of in-house lawyers who seek more guidance and communication from regulators. “The committee is in a unique situation to raise these issues,” Campbell told Corporate Counsel on Monday. “It expresses the concerns of the compliance industry, spoken by a bar committee that is representative of the industry,” and in a city that is the finance capital of the country.
