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Has SOX homogenized the roles of GCs and compliance officers?
Responding to a quote in The New York Times, Rees Morrison says he doesn't think so, but he raises a question about the fallout for companies who depend on both these roles:
"[T]he roles of general counsel -- providing legal advice -- and the chief compliance officer -- assuring procedures meet legal requirements -- remain fairly separate. [See my post of March 26, 2005, on two-tiers of staff.] If you combine promoting business (law) and enforcing regulations (compliance), do you create a no-fat department -- watered down and less effectual in both roles?"
Posted by Product Team on May 23, 2005 at 01:00 PM | Permalink
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