May 30, 2014
Supervisory Liability and Compliance: The Risk-Oversight Tradeoff
Compliance is a unique and somewhat paradoxical professional responsibility – one that must simultaneously co-exist in a silo of independence and as a fly on the wall of each department within investment advisory and broker-dealer firms. While some employees may believe that compliance personnel are constantly after them with an onslaught of regulatory requirements, acknowledgement forms, and mandatory training, it may be surprising that compliance personnel generally do not seem to view their own roles as supervisory in nature.