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Investment adviser: Failure of duty to supervise

Investment adviser: Failure of duty to supervise Under the new Compliance Program Rules, each U.S. registered investment adviser and U.S. registered investment company was required to designate a Chief Compliance Officer (“CCO)” by October 5, 2004. The CCO title is expected to carry supervisory responsibility for many of the newly appointed officers, which may lead to personal liability if they are charged with a failure of the duty to supervise. As a result, there is renewed interest in the standard of care applicable to supervisory personnel of investment advisers and the manner in which they may be insulated from regulatory liability for claims of failure to supervise persons under their control who violate certain federal securities laws (“Federal Securities Laws)”. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Investment Compliance Emerald Publishing

Investment adviser: Failure of duty to supervise

Journal of Investment Compliance , Volume 5 (3): 7 – Jul 1, 2004

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Publisher
Emerald Publishing
Copyright
Copyright © 2004 Emerald Group Publishing Limited. All rights reserved.
ISSN
1528-5812
DOI
10.1108/15285810410636497
Publisher site
See Article on Publisher Site

Abstract

Under the new Compliance Program Rules, each U.S. registered investment adviser and U.S. registered investment company was required to designate a Chief Compliance Officer (“CCO)” by October 5, 2004. The CCO title is expected to carry supervisory responsibility for many of the newly appointed officers, which may lead to personal liability if they are charged with a failure of the duty to supervise. As a result, there is renewed interest in the standard of care applicable to supervisory personnel of investment advisers and the manner in which they may be insulated from regulatory liability for claims of failure to supervise persons under their control who violate certain federal securities laws (“Federal Securities Laws)”.

Journal

Journal of Investment ComplianceEmerald Publishing

Published: Jul 1, 2004

Keywords: Financial institutions; Investments; Investment funds; Investors; Investments

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