There is widespread expectation that personal liability is going to increase, emphasized in particular by the results of voting at the Thomson Reuters New York customer summit, where 93 percent of practitioners expected the personal liability of compliance officers to increase in the next year. This report share best practices for managing personal risk.
- Regulators are increasingly targeting individuals rather than firms
- Compliance officers foresee themselves as the focus of accountability rather than CEOs.
- Increased focus on personal liability places more emphasis on senior individuals’ ability to manage and mitigate their own regulatory risk, leaving compliance officers feeling particularly vulnerable