DOJ Defends New CCO Certifications Amid Industry Worry

By Al Barbarino (May 26, 2022, 9:00 PM EDT) — The U.S. Department of Justice’s deputy attorney general said Thursday a new policy requiring chief compliance officers to sign off on certain agreements with the department is meant to “empower” them, yet it’s been raising concerns about the potential for additional CCO liability.

Speaking at a Securities Industry and Financial Markets Association event, Deputy Attorney General Lisa Monaco said the new policy, which she noted appeared in a billion-dollar settlement with mining giant Glencore on Tuesday, will help ensure compliance officers are in the loop on potential company violations and have the resources to prevent financial crime. 

“One might look at that…

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