Who is typically responsible for maintaining the compliance status of a sponsor?

The designated Key Personnel are typically responsible for maintaining the compliance status of a sponsor because they have specific roles related to managing compliance and ensuring that the organization's policies and regulatory requirements are consistently met. These individuals are often well-versed in the relevant laws, guidelines, and operational protocols required for maintaining compliance, making them crucial in ensuring accountability.

While the other roles mentioned, such as the secretary of the organization or the compliance officer, may contribute to compliance, the Key Personnel have a direct responsibility for overseeing compliance-related issues and tasks. They ensure that appropriate measures are in place, training is provided, and that any compliance risks are managed effectively. In larger organizations, the compliance officer may work closely with Key Personnel to ensure alignment and adherence to regulations, but the direct oversight typically falls to those designated as Key Personnel for specific compliance-related duties.