New SEC regulations demanding more time from CCOs (IGNITES)

The sheer number of new SEC rules, either recently finalized or moving in that direction, have required an increasing amount of time and effort from compliance personnel. CCOs and their staff have been pushed to update policies and implement new requirements at a faster pace, with shortened periods between rule proposals and adoption. A recent survey by IGNITES revealed that CCOs see addressing new SEC regulations as a pivotal factor in their roles over the past three years. FrontLine’s Founder and President Amy Lynch comments that the numerous rules have pressured firms to adjust business strategies to avoid the “heavy lift” of operational and systems changes and related costs. While CCOs are leading the charge on new rules, such as changes required by the amended names rule, swing pricing amendment, and proposed rule on the use of predictive data, Ms. Lynch adds that the burden created on firms’ operations is leaving many in the industry wondering if a particular requirement is necessary. See IGNITES (subscription required), “Today’s Compliance Hurdles: Bracing for Tomorrow”