I am often asked questions as a compliance officer that i feel are better directed to legal counsel or a lawyer. However, anything of a legal nature is still directed my way, and i have no law degree. Where do you draw the line between what falls to a compliance officer and when a lawyer should be consulted and how do you make people understand the difference? Thanks.

Interpretation of regulatory requirements falls under the compliance officer. Legal interpretations belong to the lawyer.

Review and final approval of all agreements and contract documents is a legal matter.

If it's not addressed in a required disclosure, it's probably not your territory?

"If I was the bank's lawyer I'd have a bigger office and make a lot more money?

"This is what I think. However, I'm not a lawyer, so you should forward this to [INSERT BANK LAWYER'S NAME] for a legal opinion."

Depending on who is involved, I sometimes copy the bank's attorney on my response.