SEC Bars Former CCO from the Compliance Industry and Sanctions Investment Adviser and Him for Failure to Adopt Appropriate Compliance Procedures and Code of Ethics
December 01, 2007
The Securities and Exchange Commission (the "SEC") has barred the former chief compliance officer ("CCO") of Consulting Services Group ("CSG") "from association in a compliance capacity with any broker, dealer, or investment adviser." An order ("Order") issued in an October 2007 administrative proceeding states that CSG and its former CCO had willfully violated sections of the Investment Advisers Act of 1940 (the "Act") that required CSG to (1) adopt adequate compliance policies and procedures and (2) timely adopt and accurately document a code of ethics.
