# kaal:claim:2337268-039

**Claim.** A chief compliance officer is effective only if he or she combines sufficient knowledge of IAA obligations with adequate authority to develop and enforce policies and procedures; knowledge without authority is insufficient.

**Type.** condition  **Support.** argued

**Holds when.**

- registered investment advisers required to designate a chief compliance officer

**Source quote.**

> The chief compliance officer should have sufficient knowledge of IAA obligations and adequate authority to develop and enforce appropriate policies and procedures.

**From.** Wulf A. Kaal, *Investment Adviser Regulation* (2013), 9. Prohibited Practices, page 21

**Cite as.** Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268

**Verify.** sha256 of source PDF `7075ce35282a8ee75b81ae3dec0e19f68631beae7f3c3a00ab2827538dc9e302` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202013%20-%20Investment%20Adviser%20Regulation.pdf

**Topics.** compliance

**Keywords.** chief-compliance-officer, compliance-authority, internal-controls, iaa-obligations

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