The New York City Bar Association Goes to Bat for Compliance Officers (The National Law Review)
The National Law Review, February 13, 2020
The New York City Bar Association Goes to Bat for Compliance Officers
The New York City Bar Association Compliance Committee recently issued a report encouraging financial regulators to provide a clear framework for when compliance officers may be held personally liable for the misconduct of their employing institutions. The Committee notes that, due to a recent increase in enforcement actions brought against compliance officers, there is a growing belief that individuals in compliance positions will face undue exposure for a company’s regulatory failures.