The Law Officer (LO) and Compliance Officer (CO): Status, Function, Liabilities, and Relationship

13 Pages Posted: 22 Oct 2018 Last revised: 1 Nov 2018

See all articles by Tamar Frankel

Tamar Frankel

Boston University School of Law

Date Written: October 19, 2018

Abstract

The rise of Compliance officers (COs) has raised questions about their status in institutions and comparisons to the Legal Officers (CLOs). While both officers deal with law and its enforcement, their functions and positions differ in fundamental ways. And while LOs position is recognized, the status of COs is evolving. However, these differences are slowly becoming clearer.

1. While the LO’s function is to provide legal advice to the institutional client, the CO’s function is to (i) evaluate the institution’s activities before violations take place and (ii) help prevent violations of the law by the institution. The CO should detect and help prevent institutional violations, avoiding the need to defend the client. Therefore, COs and LOs might focus on different issues and provide different advice to clients.

Keywords: compliance, status, function, liabilities, law officer, compliance officer, LO, CO

Suggested Citation

Frankel, Tamar, The Law Officer (LO) and Compliance Officer (CO): Status, Function, Liabilities, and Relationship (October 19, 2018). Boston Univ. School of Law, Law and Economics Research Paper No. 18-25. Available at SSRN: https://ssrn.com/abstract=3269948 or http://dx.doi.org/10.2139/ssrn.3269948

Tamar Frankel (Contact Author)

Boston University School of Law ( email )

765 Commonwealth Avenue
1070G
Boston, MA 02215
United States
617-353-3773 (Phone)
617-353-3077 (Fax)

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