The Financial Markets Association held its Annual Securities Compliance intense training seminar focused on current compliance topics, new rules or interpretations, and regulatory developments. Carl Fornaris, shareholder, and William Mack, of counsel, participated as speakers in the session titled “Personal Liability Facing Financial Industry Compliance Professionals” on April 24th. The session, which also included other current and former regulators, addressed personal risk, how to reduce risk, recent enforcement actions against compliance professionals, and entitlement to advancement or indemnification of expenses. The panelists also took questions from the audience about the best courses of action for compliance staff who have identified problematic behaviors at their firms.
