SEC officials state that their view of chief compliance officers of money management firms is the same as it always of. However, they can’t help but feel a since of vulnerability as they are trying to prepare for more scrutiny. Among the results that this could bring are changes for investors of institutions. Compliance experts say that they need to pay closer attention to their due diligence and make some improvements to their work. Even though there is no change in the compliance officer’s role on account of the regulators, they are becoming more eager to make their expectations known. They are also eager to enforce any action against failures of expectations.
One of the compliance officers that are growing in importance and showing more strict adherence to standards is Helane Morrison. She is a Managing Director, and Chief Compliance Officer of Hall Capital Partners LLC. She also works in the Executive Committee. Before her current position, she has practiced at Howard, Rice, Nemerovski, Canady, Falk & Rabkin for 10 years starting in 1986. During that time, she focused on the litigation of business. She was also involved in investigations of corporations. She has later entered into private practice.
Helane has received a B.S. in Journalism when she studied in Northwestern University. She also went to University of California and earned a J.D. She was also the Editor-in Chief of a publication called California Law Review. She clearly showed a lot of competence and passion in matters of the law. She is also working real hard to make sure issues in corporations are settled. She has also worked as the head of enforcement for certain firms in San Francisco. She is of course going to be one of those entities that are going to be looking deep into the issues with those companies and trying to get them on track.
Among the charges that SFX Financial Advisory Management Enterprises Inc is facing is the failure to put into effect policies that have been formulated with the purpose of protecting against the misappropriation of the assets of clients. Another charge that the firm is facing is the failure to conduct annual reviews and false statements being made and filed. These cases has gotten Daniel Gallagher troubled to the point of voicing his concern of how agencies seem to be holding chief compliance officers in liability. One thing that he is worried about is scaring certain workers off with concerns of liability.