Chief Compliance Officer Blamed for Faulty SEC Filing
It's just the latest instance of federal regulators pointing the finger at CCOs.
August 18, 2017 at 05:17 PM
3 minute read
In the latest instance of federal regulators holding chief compliance officers liable for company failings, the U.S. Securities and Exchange Commission has fined David Osunkwo and suspended him for one year from securities-related jobs.
The SEC said in its Aug. 15 order that Osunkwo submitted inaccurate information in a filing for two affiliated investment advisory companies, and Osunkwo listed the chief investment adviser as having certified the figures when, in fact, he had not.
Osunkwo, who is also a licensed attorney in New York, served as a contracted chief compliance officer for Aegis Capital and the now defunct Circle One. Osunkwo, now of Charlotte, North Carolina, could not be reached for comment. His company, Strategic Consulting Advisors, has closed, the SEC said.
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