Should compliance be separate from legal?

Should compliance be separate from legal – the debate continues:

“Should the legal and compliance functions in an organization be divided? As compliance and regulatory matters become more complex it is a question more general counsel are mulling over.The debate is whether chief compliance officers should report to CEOs and boards of directors, rather than to general counsel, in an effort to create a stronger culture of compliance.At the Royal Bank of Canada the roles are split and it’s something David Allgood, the bank’s executive vice president and general counsel, believes is critical, especially in such a highly regulated industry.”

Read: Should compliance be separate from legal? at Canadian Lawyer Magazine

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