SEC Sheds Light On Compliance-Related Liability

Law360 (November 14, 2018, 12:33 PM EST) -- In a review of a Financial Industry Regulatory Authority disciplinary proceeding, the U.S. Securities and Exchange Commission recently issued an opinion that provides important guidance on liability standards relating to chief compliance officers. Significantly, the opinion also goes out of its way to state that CEOs of brokerage firms have a duty of "follow-up and review" with respect to the fulfillment by CCOs of their responsibilities and to advance the position that brokerage firms should be held responsible for regulatory failures by employees and other firm representatives in the absence of "effective staffing, sufficient resources and a system of follow-up and review."[1]...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!