The securities industry’s compliance officers and lawyers need better guidance on whether they can be held liable for the misdeeds of other employees at their firms, two U.S. regulators said this week.
At separate conferences, Securities and Exchange Commission members Kara Stein and Daniel Gallagher called for the agency to provide more clarity, noting many officers fear they will become the subject of an enforcement action.
‘Enforcement 40’ for 2020
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