Compliance Officer

Can an existing portfolio manager in a firm take up a part time role as the compliance officer for the firm? - BN

yes, if the firm is small

Yes, but not from operations or investments.

And who should the compliance officer report to?

abacus Wrote: ------------------------------------------------------- > Yes, but not from operations or investments. and portfolio0 manager is not investments how?

the CEO

CEO or Board

haha, PM not part of investment team?? First time I’ve ever heard of that.

Anyone can be designated as the compliance officer, but in anything other than the smallest of firms, the compliance function should be separated from the investment function. It’s not unusual for the compliance officer to have other non-investment responsibilities (e.g. general counsel, or CFO). For a firm with over, say, 30 people, though, I would expect to see a full time compliance professional in the role. Edit: this is a real world answer. No idea what you would want for the exam.

bigwilly Wrote: ------------------------------------------------------- > haha, PM not part of investment team?? First time > I’ve ever heard of that. willy on sample #1, was the guy a PM or not? Who was designated?

dont recall

I thnk he was port manager and he was designated to be the compliance officer. He was going to report to CIO not CEO. I did not read that carefully…

the code says the compliance officer should PREFERABLY not be in invt or operations. and in the sample ques, he was the senior PM. i’m sure. i wrote it down. the violation was that he reported to CIO