SEC Commissioner Uyeda and Enforcement Director Grewal Discuss Compliance Challenges and CCO Liability

In recent remarks, SEC Commissioner Mark T. Uyeda and Gurbir S. Grewal, Director of the SEC Division of Enforcement (Division), offered their perspectives on various issues facing compliance professionals. Uyeda focused on the compliance burdens caused by the SEC’s recent aggressive rulemaking agenda and the unclear standards for holding individual CCOs accountable for compliance violations. Grewal discussed the Division’s work to engender public trust in the securities markets; the need for a “proactive culture of compliance”; the benefits of self-reporting, cooperation and remediation; and how the Division approaches CCO liability. As is customary, Uyeda and Grewal noted the views they expressed are their own and do not necessarily reflect the views of the SEC, any other Commissioner or its staff. This article synthesizes their remarks. See “Discussing 2022 Enforcement Results, SEC Enforcement Director Stresses Trust-Building Measures” (Jan. 5, 2023).

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