The Uncertain Professional Status of Compliance

James A. Fanto ()
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James A. Fanto: Brooklyn Law School

Chapter Chapter 3 in Financial Compliance, 2019, pp 67-88 from Springer

Abstract: Abstract This chapter explores the background and reasons for the uncertain professional status of compliance by explaining how it has evolved to achieving professional status, but noting that this field does not possess all the features of a profession. The chapter then identifies several negative effects or consequences of compliance’s uncertain professional status and observes how, from time to time, legal authorities and practitioners assert control over compliance as if it were in their domain of influence, but at other times they have been passive or complacent with respect to compliance practitioners. The chapter offers reasons for the law’s ambivalence toward compliance and concludes with thoughts on the future of compliance as a profession, acknowledging at the same time that a different professional outcome may emerge in the future as it is a “young” occupation.

Keywords: Professional status; Future of compliance; Challenges (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-14511-8_3

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DOI: 10.1007/978-3-030-14511-8_3

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