A survey indicates compliance officers are increasingly concerned about unfair regulatory enforcement against individual compliance officers. Some findings:
– 72% are concerned regulators expanded the role of compliance officers and the scope of their responsibilities in imposing personal liability.
– 70% believe the overall compliance function at their firms is under resourced.
– 35% reported insufficient resources to conduct compliance training.
– 20% reported insufficient authority to develop/enforce compliance policies/procedures.
– 25% reported an inability to address compliance-related weaknesses and report concerns to senior management.
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