2023 Navigating CCO Liability risks: Tips for staying out of the SEC's Crosshairs

Fizza Khan, Chief Executive Officer, Silver.

Jessica Thayer, SVP, Financial Institutions Practice Leader, Starkweather & Shepley Insurance .

2023-10-12

  • CCO liability can be a complex yet nebulous concept to navigate. Therefore, it's important to understand how CCO liability is being defined by regulating bodies.

  • Mitigating the risks of CCO liability hinges on understanding the types of cases out there that triggered regulatory enforcement actions. Therefore, certain top matters elucidating the potential dangers of CCO liability are highlighted.

  • Understanding CCO liabilities, the regulatory landscape and examples of "bad behavior" are important steps in protecting CCOs against potential risks, especially with so much on the line for CCOs.

  • CCOs can be held personally liable for any compliance failure, which can lead to significant legal and financial consequences and overall reputational harm for both the firm and the CCO.

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