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The Law Officer (Lo) And Compliance Officer (Co): Status, Function, Liabilities, And Relationship, Tamar Frankel
The Law Officer (Lo) And Compliance Officer (Co): Status, Function, Liabilities, And Relationship, Tamar Frankel
Faculty Scholarship
The rise of Compliance officers (COs) has raised questions about their status in institutions and comparisons to the Legal Officers (CLOs). While both officers deal with law and its enforcement, their functions and positions differ in fundamental ways. And while LOs position is recognized, the status of COs is evolving. However, these differences are slowly becoming clearer.
1. While the LO’s function is to provide legal advice to the institutional client, the CO’s function is to (i) evaluate the institution’s activities before violations take place and (ii) help prevent violations of the law by the institution. The CO should detect …