The increased demands placed on chief compliance officers in a volatile market are creating regulatory risks that threaten to “trickle up” to executives and boards.
It’s not uncommon for the compliance function within most RIAs and broker-dealers to get overshadowed by the organization’s core investment activities. This is not to say that the area isn’t vitally important, but it’s also true that those outside of compliance rarely understand all that goes into the day-to-day of most chief compliance officers (CCOs). Unlike other ancillary functions, however, when it comes to compliance, what executives don’t know can hurt them.
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