NSCP Highlights Progress on Compliance Advisory Committee Proposal
(Cornwall Bridge, CT) December 2, 2024 – The National Society of Compliance Professionals NSCP) is advancing efforts to support the creation of a Compliance Advisory Committee within the U.S. Securities and Exchange Commission (SEC). This initiative underscores NSCP’s commitment to elevating the compliance profession and fostering collaboration between industry stakeholders and regulators.
The proposed Compliance Advisory Committee is envisioned as a platform to provide expert guidance and recommendations to the SEC on compliance-related issues affecting broker-dealers, investment advisers and private fund managers. The committee would serve as a conduit for industry perspectives, identifying practical solutions to enhance compliance processes, mitigate risks and address regulatory priorities.
“Compliance professionals are integral to the financial services industry, and their voices must be part of the conversation,” said Lisa Crossley, Executive Director of NSCP. “NSCP is proud to take a leadership role in shaping this proposal, ensuring it reflects the needs of compliance officers and supports the SEC’s mission of protecting investors.”
As part of this effort, NSCP has collaborated with key financial services associations generating support for the proposal. While still in its development stages, the initiative has been met with constructive feedback from stakeholders across the industry.
This initiative builds on NSCP’s legacy of impactful advocacy, including the organization’s Chief Compliance Officer Liability Framework. Introduced in 2023, the Framework has become a widely referenced tool for both the SEC and compliance professionals, promoting a balanced approach to CCO accountability and advancing industry best practices.
NSCP will continue to engage with regulators and industry groups to ensure the proposal aligns with the shared goal of strengthening compliance programs and regulatory outcomes. For updates on this initiative and other NSCP efforts, please visit NSCP’s website.
About NSCP
Since 1986, the National Society of Compliance Professionals has been the leading non-profit, membership organization dedicated to supporting compliance professionals in the financial services industry, focusing primarily on investment advisers, broker-dealers, and private funds. NSCP membership offers a wide range of compliance resources, educational opportunities, and regulatory advocacy and engagement. NSCP provides its members with essential information on compliance topics, regulatory insights, and useful tools through its monthly publication, online and in-person events, and within an interactive online community. NSCP members have access to a diverse community of compliance professionals who share their knowledge and expertise.
