As part of its work to prevent fraud and misconduct, the Securities and Exchange Commission (SEC) will often engage independent third parties to assess and oversee a company’s compliance efforts. For example, the SEC can require companies, broker / dealers, investment advisers and others to engage a monitor to resolve an enforcement action. But what can an organization expect when the SEC imposes a monitor? And how will the appointment of a monitor impact a company’s day-to-day operations?

In “SEC-Imposed Monitors,” Chapter 9 of PLI’s SEC Compliance and Enforcement Answer Book (2020 Edition), Jonny Frank, DOJ-appointed Independent Compliance and Business Ethics Monitor to Deutsche Bank, the DOJ-appointed Independent Auditor to a Top 10 automotive manufacturer, the SEC-approved Independent Consultant to a Big Three credit rating agency and, more recently, the compliance consultant to a Northern European Bank, provides real-world insight into what companies can expect when working with a monitor. Jonny also addresses SEC and DOJ guidance for determining whether to impose a monitor, the monitor’s responsibilities and other terms of the monitor’s engagement.

Click here to read an excerpt from the chapter.

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About the Authors

Jonny Frank

Jonny Frank

Jonny Frank, a Partner with StoneTurn, brings more than 40 years of public, private and education sector experience in forensic investigations, compliance and risk management. He joined StoneTurn in 2011 […]

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