February 3, 2016
This morning the Wall Street Journal published an article on ” The Most Thankless Job on Wall Street” – compliance officer.
According to the article, recent enforcement actions that have found compliance officers personally liable are driving experienced people to be more cautious about the profession – compliance officers say they feel unfairly singled out. Nevertheless, the demand for qualified compliance professionals is driving up salaries.
The SEC contends that it is not targeting compliance personnel, as we alerted you in a previous update. Yet according to the article, compliance executives are increasingly seeking their own lawyers, asking for more protection in their employee contracts and requesting liability coverage.