This piece was originally shared on Thomson Reuters' blog and is republished here with permission. As compliance officers continue to complain of regulatory fatigue, a major annual survey reveals that few expect the burden to diminish in the coming year. The sheer volume and scope of regulatory change, coupled with concerns about the personal liability of compliance managers, has made the regulatory landscape...

The transformation in the CCO's role has been so swift and broad that it may be time to take stock, to review prominent changes to the profession and what is expected of the modern compliance officer, plus how to succeed in the role.

Are the problems revealed by the Panama Papers anything new? Absolutely not. Unreported offshore accounts are hardly a novel phenomenon. If it’s an original approach you’re looking for, here you have it: from now on, banks and financial service firms will be required to exercise prudent skepticism when performing due diligence.