Emily Glazer – The Wall Street Journal – February 2, 2017
The Wall Street Journal discusses the shuffling at the chief compliance officer position within J.P. Morgan. Of note, the “Journal reported last year that regulators are focusing more on who compliance executives report to give them more independence from executives who set policies and manage people in the field.”
My comments on this are:
- Simply focusing on reporting lines is not enough. That’s why we added seat at the table, empowerment, line of sight, and resources to the analysis.
- It’s nice to see this becoming part of the lexicon.
- Four CCOs in four years is the Compliance 1.0 red flag I have written about-> A CCO “revolving door” should show regulators and gatekeepers that something is very wrong in a company’s compliance approach or culture.