Who wants to be a compliance officer?
Those officers on Wall Street in charge of ensuring that traders and other employees stay on the right side of laws and regulations are increasingly in the cross hairs themselves.
Several recent enforcement actions found compliance officers personally liable for mistakes within their firms.
…Mr. Gallagher, a Republican, wrote that the agency “should strive to avoid the perverse incentives that will naturally flow” from targeting the officers who are on the front lines in preventing wrongdoing. He said the SEC “seems to be cutting off the noses of [chief compliance officers] to spite its face.” Mr. Gallagher left the agency in October…
Visit the link below to read the entire WSJ article: