Thank you for sharing!

Your article was successfully shared with the contacts you provided.
U.S. Securities and Exchange Commission seal in Washington, D.C. January 5, 2019. Photo: Diego M. Radzinschi/ALM

The role of any chief compliance officer is multifaceted. In the investment management space, responsibilities include ensuring all investment activities are in compliance with applicable regulations to engaging with financial regulators to answer questions and address concerns. This is a tall order for even the most experienced of CCOs—and has arguably become even taller as many have been forced to maintain sound compliance processes and controls across decentralized, remote work environments.

While the exact regulatory and cultural changes that may roll out under the new leadership of the Securities and Exchange Commission remain uncertain, the list of responsibilities and critical function of a CCO to an investment adviser are always evolving. At a national seminar held by the SEC last November, the commission outlined points for how investment companies and advisers can model a regulatory compliance program to prevent violations and mitigate operational and regulatory risks, as well as focused on the importance of the CCO’s role in achieving this. So important, of course, that the CCO can be held personally liable if the firm is subject to an enforcement action.

Want to continue reading?
Become a Free ALM Digital Reader.

Benefits of a Digital Membership:

  • Free access to 1 article* every 30 days
  • Access to the entire ALM network of websites
  • Unlimited access to the ALM suite of newsletters
  • Build custom alerts on any search topic of your choosing
  • Search by a wide range of topics

*May exclude premium content
Already have an account?


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.