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Browse: Home / 2015 / June / 19 / SEC’s Gallagher says agency unfairly cracks down on compliance officers — InvestmentNews

SEC’s Gallagher says agency unfairly cracks down on compliance officers — InvestmentNews

By Securities Docket on June 19, 2015, 8:02 am

The actions show a tendency by the agency to punish compliance officers for violations of an SEC rule, known as 206(4)-7, that requires firms to write and implement compliance programs, according to Mr. Gallagher.

As a result, the SEC is “sending a troubling message that CCOs should not take ownership of their firm’s compliance policies and procedures … or worse, that CCOs should opt for less comprehensive policies and procedures,” Mr. Gallagher wrote.

via SEC’s Gallagher says agency unfairly cracks down on compliance officers — InvestmentNews

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