The future of many compliance officers is no longer a smooth run after the SEC decided to do some scrutiny in their role of duty. SEC has come up with some rules to halt some behaviors of many compliance officers who have been connected to cases of money mismanagement from some institutions. Cases have been raised for the past few years since SEC director Helane Morrison left the company in 2007. She was one of the best compliance officers they had as she made it tough with traders who otherwise are the reason hat compliance officers want a new beginning today.
A group of compliance officers are not happy about the whole scrutiny thing as it is inducing fear on them. They wonder if fairness will reign in the decision of SEC. However, SEC assures them that this is just a way to ensure that they do their work as it is supposed to be done.it is assuring them that it is not that they are adding them more duties, but it is toughening them up on their duty other traders could sue them. Other investors think that SEC is only uttering words, but action has been seen from them adding new rules and act about the involvement of compliance officers in false advertisements despite the company being a registered one.
Helane Morrison was good at her work she did what she had or was supposed to do during her career at SEC especially in matters relating to litigation security enforcement and regulatory. She is also an inspirer of many with her numerous inspiration quotes which I think was a trick she used to keep going at SEC. If she made life smooth for traders and investors, her profile would not be as clean as it is today. In her quote that it is so unusual to find employees of a single company engaging in insider trading is a reflection of the tough going of the chief compliance officers. They need to start changing by avoiding making many investors their close allies to even failing to implement certain regulatory policies on them. Security should come first in this matter.
The CCOs state should be not because of being uncomfortable with SEC rulings but by the virtue of following their profession at heart. They should be aware of traders derailing them in matters of money management. In return act against all fraudsters like Helane when she raised very high profile cases in big companies and she made a superb move against them. They should understand that SEC wants accountability from them, and it is not trying to instill fear.
To learn more about Helane’s career, connect with her on LinkedIn or keep up to date on current news about her here: https://www.crunchbase.com/person/helane-morrison#/entity