Corporate Compliance Officer – Gatekeeper or JailbirdJanuary 24, 2007 Download PDF
Most companies long ago acknowledged the government’s and the courts’ expectation that corporations should institute corporate compliance programs as an important tool to ensure their compliance with all applicable federal and state laws and regulations. An essential element of such programs is the retention of one or more in-house employees, who are called Corporate Compliance Officers (CCO).
A recent court ruling demonstrates the severe legal risks to individuals who are given the title of CCO, and the companies that employ them, when the government and a court believe that the CCO has not properly fulfilled his or her duties as gatekeeper over the company’s compliance obligations.
- John R. Fleder