The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Lawyer: CCO Requirement a Goldmine Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, October 6, 2004

Lawyer: CCO Requirement a Goldmine

by: Sean Hanna, Editor in Chief

This is the news that you do not want to hear (but knew that you would). The Boston Herald reported Wednesday that the cost of complying with new SEC governance rules is outstripping the revenues as some small fund firms. For executive recruiters and lawyers, the new requirements are a gold mine.

"Regulatory red tape designed to crack down on corporate scandals is creating a cottage industry of high-paying compliance jobs for lawyers, accountants, recruiters, tech personnel and others," is the paper's lede.

While the paper fails to get any fund firms on the record, it has no problem in tracking down those being finely paid to find compliance help.

J. Nicholas Hurd, a Russell Reynolds Associates recruiter, tells the paper that recruiting compliance pros for fund firms is a "very active area" for the firm, but not as active as assignments finding independent directors. Pay for the directors jobs starts at $150,000, Hurd said.

Another source, attorney Willis Riccio, telss that paper that he recently provided a recommendation for a $500,000 "chief compliance officer" job. He also reports that he is strying busy writing new codes of ethics for clients.

"It's a gold mine for us lawyers," he tells the paper.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use