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https://compliancealert.org/view-blog/27/#:~:text=Chief%20Compliance%20Officers%20%28CCOs%29%20increasingly%20face%20personal%20liability,have%20transformed%20the%20environment%20in%20which%20CCOs%20operate.
https://www.globalradar.com/compliance-officers-professional-liability/
https://boardandfraud.com/2020/11/11/chief-compliance-officers-ccos-and-personal-liability/
In those cases, “compliance personnel are liable on the same terms and to the same extent as any other bad actor. In other words, if you knowingly and intentionally use defective nails or willfully misplace the nails, you are responsible for the thrown shoe, no matter your compliance function,” she concluded.
https://legal.thomsonreuters.com/en/insights/articles/how-compliance-officers-minimize-personal-liability
However, a well-supported, regularly updated compliance program reflects very well on an organization’s compliance officer. More importantly, the opposite is also true: A deficient compliance program may likely be seen as a failure by the compliance officer – and such a failure may prompt regulators to seek individual liability for that compliance officer. Finally, as is …
https://advisory.kpmg.us/articles/2021/chief-compliance-officer-liability-framework.html
Although the proposed CCO liability framework put forth by the NYC Bar in conjunction with other industry groups is specifically directed to the SEC and compliance with federal securities laws, it highlights issues and practices that may be considered part of the overall compliance program management and, as such, may be of interest to a broader group of risk and compliance …
https://corporatecompliancehq.org/what-does-a-corporate-compliance-officer-do/
Every company in the private sector has to adhere to strict rules, laws, and regulations. Understanding compliance requirements and fulfilling it is as important as doing your taxes. That’s why companies hire in-house or external corporate compliance officers. The duties of corporate compliance officers can change according to different industries and organizations. …
https://www.brightlaw.com.au/the-liability-of-compliance-officers-long-article/
The compliance officer is not usually directly involved in operational areas but is responsible for implementation of the compliance program and to provide a second line of defence to operations. If the three lines of defence model is followed, is the liability for a compliance breach a collective corporate liability or the personal liability of the chief …
https://www.birminghammedicalnews.com/news.php?viewStory=1056
Potential Personal Liability for Corporate Compliance Officer. The risks associated with serving as a compliance officer for a healthcare organization appear to have become more serious. The United States Department of Justice has filed a civil complaint against former Tenet General Counsel and Compliance Officer Christi Sulzbach. The complaint seeks millions of dollars of …
https://d16yj43vx3i1f6.cloudfront.net/uploads/2020/02/Report-on-CCO-Liability_vF.pdf
Compliance Officers Face Increasing Risk of Individual Liability The first, and perhaps most immediate, cause of heightened anxieties in the corporate compliance community is that compliance officers increasingly see themselves as targets of enforcement actions. This is not unfounded. In recent years, a number of prominent
https://corpgov.law.harvard.edu/2021/02/21/recent-trends-in-officer-liability/
The rare officer liability claim was typically brought in derivative litigation and involved either allegations of disloyal conduct for which neither a director nor an officer could be exculpated or conduct by an individual serving in both an officer and director role.
https://www.mondaq.com/unitedstates/compliance/654192/the-sec-the-doj-and-compliance-officer-liability
The SEC's posture regarding chief compliance officer liability can most readily be found from two sources: pronouncements and speeches by SEC Commissioners and Enforcement Division Directors and reviewing the decisions of the SEC itself and by its Administrative Law Judges (ALJ's), all of which usually turn on the specific facts of each case.
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