kaal:claim:2739479-013

Firms that outsource the chief compliance officer role to third parties face heightened SEC scrutiny and examination risk, and the SEC has signaled that CCO liability arises where CCOs mislead regulators, engage in affirmative misconduct, or fail to carry out assigned compliance responsibilities.

Source quote, verbatim
Firms that outsource their chief compliance roles to third parties face increased scru- tiny and threat of examination.131 The SEC warns that CCO liability could be- come an issue if CCOs mislead regulators, engage in affirmative misconduct, or fail to carry out compliance responsibilities.
From

Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016), II.2. Regulatory Developments, p. 21
https://ssrn.com/abstract=2739479 · source PDF

Cite as

Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016). SSRN: https://ssrn.com/abstract=2739479

Holds when
Classification

conditionsupport: evidencedcompliancelaw-and-legal-systemssecurities-law

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