The Chief Compliance Officer (CCO) of a company is the officer primarily responsible for overseeing and managing compliance issues within an organization. The CCO typically reports to the Chief Executive Officer. The role has long existed at companies that operate in heavily regulated industries such as financial services and healthcare. For other companies, the rash of recent accounting scandals, the Sarbanes-Oxley Act, and the recommendations of the U.S. Federal Sentencing Guidelines have led to additional CCO appointments. Scott Cohen, editor and publisher of Compliance Week, dates the proliferation of CCOs to a 2002 speech by SEC commissioner Cynthia Glassman, in which she called on companies to designate a "corporate responsibility officer."[1] The responsibilities of the position often include leading enterprise compliance efforts; ensuring compliance with internal policies, procedures and controls, third-party guidelines, and applicable local, state and federal laws and regulations; managing audits and investigations into regulatory and compliance issues; and responding to requests for information from regulatory bodies. Before the signing ceremony of the Sarbanes-Oxley Act, President George W. Bush meets with Senator Paul Sarbanes, Secretary of Labor Elaine Chao and other dignitaries in the Blue Room at the White House on July 30, 2002. ... Compliance Week is a newsletter on corporate governance and compliance issues that reaches over 40,000 financial and legal executives at U.S. public companies. ... Dr. Cynthia Aaron Glassman of Alexandria, Virginia was appointed acting chair of the Securities and Exchange Commission (SEC) by President George W. Bush on July 1, 2005. ...
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