Going to run counter to the stream here - don't quit and don't give up on the company.
Every firm has crappy managers and your references to "compliance" tell me there's a fear of lawsuits. This sounds like you are being thrown under the bus by an ineffective and frightened (those two usually go together) manager. There may be a sense (which may or may not be coming from that manager) that it's cheaper to fix the problem by fixing the blame.
1. Do not check out. You don't have to quit. The PIP is a process. Lots of people come through PIPs, don't believe it's a one-way route out of the company. It's not. It is a flag that you and your manager are not on the same page about expectations and is more like a DUI or a divorce - one is unfortunate but happens to more people than you think. You find the problem, make changes and continue. More than one..that's a different problem.
2. Understand and use the PIP process. If the manager is doing all of the documenting and you are not, that's what we call a no-contest. You don't want to fight or offer opinions - focus on facts, emails, ccs, phone calls, meeting notes. Document this as your side of the PIP process. This will probably not get your manager to back down, but 1) establishes your position for anything else that's about to happen and 2) gives some back and forth to the process, which slows it down long enough for you to get to #3.
3) Are there options for a transfer? This is a discussion that you can have with HR (yes, they are there to keep the company from being sued and not for your well being, BUT remember they are also not there for your manager's well-being either; they are partly there to try and retain people who are good contributors because it costs more money to get a new employee than it costs to keep a good one). The key is how you are perceived by people other than your manager - especially your manager's peers. They are the ones who can find a new home for you inside the company if they think you are worth the investment. It's best if they thought that before this happened, but it's still not too late - you just need to know the room.
Anyway, best of luck and I hope you're hearing the majority of comments here that says this is not the end of your life or your career. It happens sometimes, and people move on if you are professional and can look at this more as training than misfortune.
Every firm has crappy managers and your references to "compliance" tell me there's a fear of lawsuits. This sounds like you are being thrown under the bus by an ineffective and frightened (those two usually go together) manager. There may be a sense (which may or may not be coming from that manager) that it's cheaper to fix the problem by fixing the blame.
1. Do not check out. You don't have to quit. The PIP is a process. Lots of people come through PIPs, don't believe it's a one-way route out of the company. It's not. It is a flag that you and your manager are not on the same page about expectations and is more like a DUI or a divorce - one is unfortunate but happens to more people than you think. You find the problem, make changes and continue. More than one..that's a different problem.
2. Understand and use the PIP process. If the manager is doing all of the documenting and you are not, that's what we call a no-contest. You don't want to fight or offer opinions - focus on facts, emails, ccs, phone calls, meeting notes. Document this as your side of the PIP process. This will probably not get your manager to back down, but 1) establishes your position for anything else that's about to happen and 2) gives some back and forth to the process, which slows it down long enough for you to get to #3.
3) Are there options for a transfer? This is a discussion that you can have with HR (yes, they are there to keep the company from being sued and not for your well being, BUT remember they are also not there for your manager's well-being either; they are partly there to try and retain people who are good contributors because it costs more money to get a new employee than it costs to keep a good one). The key is how you are perceived by people other than your manager - especially your manager's peers. They are the ones who can find a new home for you inside the company if they think you are worth the investment. It's best if they thought that before this happened, but it's still not too late - you just need to know the room.
Anyway, best of luck and I hope you're hearing the majority of comments here that says this is not the end of your life or your career. It happens sometimes, and people move on if you are professional and can look at this more as training than misfortune.