What is a Chief Compliance Officer in the context of a Registered Investment Advisor (“RIA”)?

Definition: In the wealth management industry the Chief Compliance Officer is the title typically attributed to the individual at a broker/dealer or RIA with overall responsibility for the firm’s regulatory and compliance responsibilities.

When used in an RIA context: “Every RIA is required to designate someone as the firm’s Chief Compliance Officer.”

See also: Episode #99, CCO