CCOs of private fund managers face extraordinary pressure. Surveys conducted by the National Society for Compliance Professionals (NSCP) revealed that most respondents were very or somewhat concerned that personal liability would be imposed on them without recognition that they were acting in good faith in a high-volume, intense environment. Lack of sufficient resources and support from firm management have only heightened CCOs’ concerns. In response, the NSCP released a Firm and CCO Liability Framework (Original Framework) in January 2022. Just over a year later, the NSCP has released an updated version of the framework (Updated Framework) in response to feedback on the Original Framework. This article explores the response to the Original Framework; why and how the Updated Framework was created; the key changes made; and how CCOs and firms can use the new version. It also includes commentary from Brian L. Rubin, partner at Eversheds Sutherland and member of the NSCP’s Regulatory Advisory Committee, which worked on both frameworks. For discussion on the Original Framework, see “A Look at the NSCP’s Firm and CCO Liability Framework” (Feb. 24, 2022). See also “How CCOs Can Avoid Personal Liability for Organizations’ Compliance Failures” (Mar. 11, 2021).