Despite myriad changes in financial markets, to investment adviser and broker-dealer regulations and at the SEC itself, the “critical importance of the role” played by compliance professionals has remained steadfast.  So said SEC Chief of Staff Andrew J. Donohue at the National Regulatory Services 30th Annual Fall Investment Adviser and Broker-Dealer Compliance Conference.  Donohue offered his observations about the wide array of challenges compliance professionals face, how the SEC can help overcome those challenges and additional considerations.  This article summarizes Donohue’s speech.  For additional insight from SEC officials on CCO liability, see “SEC Commissioner Speaks Out Against Trend Toward Strict Liability for Compliance Personnel,” Hedge Fund Law Report, Vol. 8, No. 25 (Jun. 25, 2015); and “SEC Commissioner Issues Statement Supporting Hedge Fund Manager Chief Compliance Officers,” Hedge Fund Law Report, Vol. 8, No. 28 (Jul. 16, 2015).