Proposed Framework Seeks to Better Define Liability for Chief Compliance Officers (Wall Street Journal)

Wall Street Journal, January 12, 2022

Proposed Framework Seeks to Better Define Liability for Chief Compliance Officers

Last June, the New York City Bar Association proposed a framework aiming to guide regulators’ decisions to bring enforcement actions against chief compliance officers in the finance sector. That proposal asked regulators to evaluate 12 affirmative factors and three mitigating factors in deciding whether to charge chief compliance officers for conduct relating to their job-related duties under federal securities laws.

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