SEC Sees an Elevated Role for Compliance

(Advisor One, 31 January 2012)

In Brief: Carlo di Florio, Director of the US Securities and Exchanges Commission’s (SEC) Compliance Inspections and Examinations unit, said in a recent speech that compliance “is not a responsibility that stops at the desk of the CCO,”  it must have “full support and engagement of senior management and the board.”

Our View: Compliance does indeed require the continual support and commitment from senior management and the board. Leading compliance and ethics programs engage employees, board members, and other stakeholders with compelling and comprehensive reports on key compliance achievements and goals. Compliance and ethics initiatives should be presented as a value-add that helps employees conduct business in the “right way.”