Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Compliance officer; compliance; enforcement; regulation; regulators; personal liability; protections; whistleblower; whistleblower protections; chief compliance officers; SEC; FinCEN; Dodd-Frank Act; workplace culture; management; organizational governance; chilling effect; retaliation protection; Bank Secrecy Act; BSA; National Society of Compliance Professionals; NSCP; FINRA; CCO; CEO; CFO; non-regulation; Society of Corporate Compliance and Ethics; SCCE; Compliance Certification Board; CCB; Sarbanes-Oxley Act; Dodd-Frank 78u-6(h); Digital Realty Trust v. Somers; Model Rule of Professional Conduct 1.13 (1)
- Securities Exchange Act; SEC; Securities Exchange Act Section 21(a); Rule 10b-5; securities law; regulation; report of investigation; compliance; municipalities; stock markets; National Association of Securities Dealers; enforcement; Initial Coin Offering (1)
Articles 1 - 2 of 2
Full-Text Articles in Securities Law
Karmel’S Dissent: The Sec’S Use And Occasional Misuse Of Section 21(A) Reports Of Investigation, James J. Park
Karmel’S Dissent: The Sec’S Use And Occasional Misuse Of Section 21(A) Reports Of Investigation, James J. Park
Brooklyn Journal of Corporate, Financial & Commercial Law
Section 21(a) of the Securities Exchange Act gives the SEC the option of publishing a report of its findings after conducting an investigation. Typically, the SEC issues such reports about once a year to highlight major compliance and enforcement issues. This Article examines the SEC’s use of Section 21(a) investigative reports with special attention to its 1979 report in Spartek, where Commissioner Roberta Karmel filed a famous dissent. In that opinion, she argued that the report effectively sanctioned conduct over which the SEC did not have jurisdiction and that Spartek did not have sufficient notice of its regulatory obligations. While …
Compliance Officers: Personal Liability, Protections, And Posture, Jennifer M. Pacella
Compliance Officers: Personal Liability, Protections, And Posture, Jennifer M. Pacella
Brooklyn Journal of Corporate, Financial & Commercial Law
This Symposium Article will explore the evolving nature of the regulatory and enforcement landscape as it pertains to compliance officers, specifically regarding their susceptibility to personal liability. It will examine the posture of compliance officers in three contexts: i) as a possible target for enforcement activity by regulators; ii) as a quasi-professional subject to a current regime of “non-regulation”; and iii) as an employee in need of ample whistleblower protections, each of which create implications for a compliance officer’s risk of personal liability and protections as a constituent of the organization monitored. After considering the current guidance surrounding enforcement activity …