SEC's Stanford Case A Chance To Clarify Compliance Duties

Law360, New York (February 5, 2016, 10:30 PM EST) -- Compliance officers who worry they have an enforcement target on their back may soon get some clarity — and perhaps reassurance — from the U.S. Securities and Exchange Commission when it rules on a case involving convicted Ponzi schemer R. Allen Stanford's former top compliance manager.

On Monday, the SEC is scheduled to hear oral arguments in an appeal by Bernerd Young, a former regulator who was the chief compliance officer at Stanford Group Company Inc. at the time the $7 billion fraud was exposed. He is contesting an initial decision by an SEC judge, who said he should pay more...

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