In The Wall Street Journal, litigation & enforcement partner Dan O’Connor discussed what liabilities CFOs can face in connection with corporate wrongdoing. The quotes were included in an article examining charges brought by New York officials against Allen Weisselberg, the Trump Organization’s finance chief. The article notes that, depending on the charge, CFOs can be hit with hundreds of thousands of dollars in fines if the Securities and Exchange Commission pursues legal action against them. Dan said: “That money, by law, has to come out of the CFO’s pocket.” He also noted that if CFOs made money from an illicit scheme, they have to disgorge the profits with interest, the article reports.
Attorneys
Stay Up To Date with Ropes & Gray
Ropes & Gray attorneys provide timely analysis on legal developments, court decisions and changes in legislation and regulations.
Stay in the loop with all things Ropes & Gray, and find out more about our people, culture, initiatives and everything that’s happening.
We regularly notify our clients and contacts of significant legal developments, news, webinars and teleconferences that affect their industries.