Evolving Legal Standards for Compliance Officers

Evolving Legal Standards for Compliance Officers

Corporate compliance officers are used to facing pressure from within their companies to protect them from legal exposure, but increasingly, external pressure from regulators means that compliance officers themselves may face liability if something goes wrong. The recent enforcement cases holding compliance officers liable for failing to implement effective compliance programs and the debate that has ensued indicate that the issue remains unsettled, but the overall trend appears to be toward growing individual accountability.