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CCO Liability

Here’s a primer on the other basics you must know
Diver defrauded clients by electronically debiting invoice client accounts more than what they owed to M&R and redirected the excess to his personal bank account
Three Monsoon employees told Prakash that a use of fund assets for his own personal benefit would breach his fiduciary duty. Prakash placed his personal ...
Ben Anderson, principal with Anderson PLC in Minneapolis, shares actions he believes CCOs can take to reduce their risk of being charged in an SEC ...
“We keep just a simple Excel spreadsheet” to document issues and their resolutions
DB Fitzpatrick “terminated the chief compliance officer at the time of the Contributions and hired a new chief compliance officer
The case marks just the latest bad news for small-firm managers with compliance duties
Compliance "officers remain concerned that their good faith efforts and well-intentioned conduct may be punished"
"We have recognized previously that other demands on a CCO’s time may be a mitigating factor and [recognize] competing demands on" the CCO's time as ...
It doesn't always pay to listen to the boss
Settlement follows criminal case plea that could land the CCO in jail
Advisers systematically overbilled more than 100 of its client accounts for a total amount of over $11.8 million
RJ Advisers’ policies and procedures required FAs and the Compliance Department to monitor the Inactive Accounts. Specifically, FAs were to “continually monitor their client accounts,” ...
The CEO of a purported CPO/CTA met his future CCO in the same spot where the fraudster lured many of his investors: church.   The ...
Marconato made false statements to the NFA by denying the existence of his commodity pool
In a potentially worrisome case for compliance officers, the SEC found that the former CCO of Merrimac Corporate Securities had violated FINRA rules by providing ...
The potential liability of compliance officers may be waning, but there are still some egregious cases where mischief leads to deep trouble for a compliance ...
Regulatory change was flagged as the perceived single biggest challenge facing compliance officers this year, according to Thomson Reuters Regulatory Intelligence’s 10th annual survey on ...
On Behn’s recommendation, approximately 40 of Behn’s advisory clients invested more than $7 million in securities issued by Aequitas Commercial Finance, LLC (“ACF”), one of ...
The Commission’s amended complaint alleged that David Goulding allowed his father to use the Funds’ assets to pay personal expenses which were not supported by ...
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