News & Analysis as of

Chief Compliance Officers Professional Liability

The Volkov Law Group

FINRA Issues Guidance on CCO Liability

The Volkov Law Group on

I am reluctant to wade into the issue of CCO liability because I gravitate toward a simplistic answer to a complex question – when does a CCO cross the line to warrant civil or even criminal prosecution?  My simplistic...more

Dorsey & Whitney LLP

What Message Is Being Sent to CCOs By SEC Commissioners?

Dorsey & Whitney LLP on

The role of the chief compliance officer is the talk of the Securities and Exchange Commission these days – or at least some of its Commissioners. Those who are speaking for the record agree that the role of the CCO is...more

The Volkov Law Group

Prosecution of Chief Compliance Officers: Establishing Basic Professional Standards

The Volkov Law Group on

We all know that sometimes the press just gets it wrong. They do not understand the nuance of an issue that may be right in the core of our legal and/or compliance practice. We all have read an article in our area of...more

Allen Matkins

Company Sues Former Officer For Failing To File Form 4s

Allen Matkins on

A complaint filed in the Central District of California caught my eye because it involved the rather unusual circumstance of a corporation suing a former director and officer for, among other things, failing to file reports...more

Carlton Fields

The Corporate Representative’s Deposition Bill Of Rights (And Wrongs)

Carlton Fields on

Your company’s general counsel just “voluntold” you that you’re going to be deposed as the company’s representative in a court case that you’ve never heard of. What in the world is she talking about, and what will you have to...more

The Volkov Law Group

Questioning The Caremark Standard

The Volkov Law Group on

The Justice Department’s aggressive enforcement program has had a profound impact on corporate governance. As a consequence, the last there has been a significant change in emphasis in the C-Suite, among general counsel and...more

NAVEX

Chief Compliance Officers in the Crosshairs

NAVEX on

Liability is something chief compliance officers have secretly worried about since the role was first created. They often joke, grimly, about becoming the “designated felon.” The joke may have been more prescient than...more

Goodwin

FINRA Fines Firm and Former Chief Compliance and AML Officer For Failing to Register Foreign Finders and Failure to Comply with...

Goodwin on

On January 28, 2014, the Financial Industry Regulatory Authority, Inc. (“FINRA”) accepted a Letter of Acceptance, Waiver and Consent (the “AWC”) from a member firm, Banorte-Ixe Securities International, Ltd. (the “Firm”), and...more

Thomas Fox - Compliance Evangelist

Individual FCPA Enforcement Actions In 2013

This year had the largest number of individual Foreign Corrupt Practices Act (FCPA) enforcement actions since 2010, the year of the Gun Sting case. Here are the highlights of FCPA related enforcement actions against...more

Thomas Fox - Compliance Evangelist

The SEC Talks About Chief Compliance Officers

Recently, the SEC’s Division of Trading and Markets provided guidance on the potential liability of compliance and legal personnel at registered broker-dealers through a series of answers to eight Frequently Asked Questions...more

Troutman Pepper

SEC Hits The ‘Reset Button’ On Failure To Supervise Liability For Legal And Compliance Personnel

Troutman Pepper on

On September 30, 2013, the U.S. Securities and Exchange Commission (SEC) – quietly, and with little fanfare – released an informal statement of policy in the form of frequently asked questions (FAQ), in which it addressed its...more

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