NEW YORK, April 25, 2023 — The COMPLY™ 2023 Chief Compliance Officer (CCO) Playbook in conjunction with its portfolio products, ComplySci and RIA in a Box. The annual guide, published in the past by ComplySci, takes an in-depth look at recent and anticipated regulatory compliance changes and their impact on the financial services industry.
In addition to insights and analyses of recent regulatory activity, this year’s playbook includes an extensive interview with COMPLY Chief Regulatory Office John Gebauer, exploring the dynamic landscape which has placed additional demands on compliance professionals.
“Chief Compliance Officers and their teams have a near impossible mission to mitigate heightened risk points while navigating the ever-increasing complexities of the regulatory landscape,” said Gebauer. “The nuance and specificity required of such a position has placed enormous burden on the executives, leaders and staff in those positions.”
Highlights of the 2023 CCO Playbook include:
- The top five regulatory themes for 2023.
- Significant updates about the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) and their outlook for 2023.
- A recap of major compliance news from 2022, including significant cases brought by regulators, updates on Reg BI, pay-to-play rules, cryptocurrencies and more.
- Actionable ways to ensure alignment between a firm’s resources and compliance demands.
Last year saw a nearly unprecedented level of regulatory action and impact. Major cases and significant rulings shifted the financial advisory landscape and will likely continue to impact firms for years to come. The SEC received $6.439 billion in fines and disgorgement, compared to the 2021 total of $3.852 billion. And this was achieved despite total enforcement actions only increasing by 9%.
This active year not only brought significant monetary fines beyond historical norms, but the Commission proposed and finalized rules and amendments which would create heightened requirements for firms of all sizes.
Gebauer added, “The 2023 edition of COMPLY’s CCO Playbook details the kinds of sophisticated risk that will continue to impact the regulatory compliance landscape. By considering the enforcement actions of the major regulators and their 2023 exam priorities, we provide strategies to achieve compliance and risk mitigation for firms across the financial services landscape.”
Amy Kadomatsu, COMPLY CEO, concluded, “Compliance professionals need a comprehensive view of the evolving regulatory environment, and a holistic solution set to meet the dynamic responsibilities before them. COMPLY is uniquely positioned to empower CCOs and their teams to develop and deliver strategically sound and operationally impactful compliance programs today, and into the future.”
Download the 2023 CCO Playbook to learn more about the regulations, risks and strategies shaping today’s compliance landscape.
About COMPLY
At COMPLY, we pride ourselves on being the champion for compliance professionals. Merging technology, consulting and education, we help clients navigate the ever-changing regulatory environment. Our portfolio of products includes ComplySci, RIA in a Box, National Regulatory Services (NRS) and illumis, whose more than 7,000 clients include some of the world’s largest financial institutions. Clients throughout our portfolio enjoy access to our full suite of industry-leading governance, risk and compliance (GRC) consulting, technology, managed services, analytics and outsourcing solutions.
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