SEC Is Not ‘Targeting Compliance Professionals’
The SEC announced the promotion of Anthony Kelly on Thursday, the same day he participated in a panel discussion at the Investment Adviser Association’s annual compliance conference. In the panel, he took the opportunity to reassure the audience that his team is not singling out CCOs for enforcement actions, reports Financial Planning.
“I know there’s a sense out there that the SEC is targeting compliance professionals,” Kelly said.
“I can tell you that is not the case. There is no change in policy where we are now trying to target compliance professionals,” he said. “There’s no shift in our thinking.”
“Industry concerns about regulators targeting CCOs gained steam last summer after the SEC brought an enforcement action against BlackRock and its CCO in a case turning on the failure to disclose a conflict of interest and other compliance lapses,” the report says.
