The Senior Managers and Certification Regime (“SM&CR”) is new set of requirements that will affect all firms regulated by the Financial Conduct Authority in the UK. This includes US firms (and those based elsewhere) who have some presence in the UK. And because SM&CR touches on the way firms are governed, it has potential implications for senior managers and some other staff in such firms including, in some cases, those located in the US parent.
July 17, 2019
July 15, 2019
ACA Compliance Group and the Investment Adviser Association release the results from their 2019 Investment Management Compliance Testing Survey. For the sixth year in a row, cybersecurity remains the biggest compliance concern at registered investment adviser firms – with 83 percent of survey respondents identifying cybersecurity as the “hottest” compliance topic and 70 percent indicating that their firms increased compliance testing in this area over the past year.
July 11, 2019
On June 5, 2019, the SEC released a final comprehensive interpretation of the standard of conduct for investment advisers (the “Release”), which will become immediately effective upon publication in the Federal Register (anticipated July 2019).
July 3, 2019
ACA Broker-Dealer Services invites you to download the latest edition of our newsletter.
July 3, 2019
This week marks three years since the Market Abuse Regulation (MAR) overhauled the civil market abuse regime across Europe, repealing and replacing the Market Abuse Directive (MAD) and the UK’s own domestic legislation.
July 2, 2019
When is marketing not marketing? When it’s pre-marketing - Omnibus proposals bring fresh clarity from Europe
When the Alternative Investment Fund Managers Directive (“AIFMD”) came into force back in the heady days of 2013, it brought into the financial lexicon terms that are now well-worn phrases such as “Article 42” or “Article 36” and of course “reverse solicitation”.
June 13, 2019
On June 5, 2019, the SEC passed Regulation Best Interest (“Reg BI”). Broker-dealers will be required to act in the best interest of their retail customers when recommending any securities transaction or investment strategy. Here's what you need to know.
May 24, 2019
ACA Compliance Group is pleased to present their newest survey results in the form of a white paper, 2019 Liquidity Risk Management Program Rule Survey Results.
May 16, 2019
FINRA recently issued Regulation Notice 19-18 (the “Notice”), which provided guidance to member firms regarding their monitoring obligations with respect to suspicious activity pursuant to the Bank Secrecy Act (“BSA”) and anti-money laundering (“AML”) requirements.
May 6, 2019
The staffing needs for financial services firms are constantly evolving. The ever-changing regulatory landscape combined with the increasing adoption of regulatory technology can make finding and retaining qualified staff with the required proficiencies a challenge for HR departments and recruiters.
May 3, 2019
ACA Compliance Group and the Investment Adviser Association invite you to participate in the 2019 Investment Management Compliance Testing Survey. The survey is open to compliance professionals at SEC-registered investment advisers. The survey will remain open through Friday, May 31.
April 29, 2019
The total dollar amount of fines in 2018 that the Financial Industry Regulatory Authority’s (“FINRA”) Enforcement Division ordered against its member firms increased slightly to $74 million from $68 million in 2017. While the total dollar amount increased nearly nine percent, the total number of fines decreased to 209 in 2018, compared to 318 in 2017. Both the number and dollar amount of fines assessed by FINRA have fallen significantly since 2014, as the charts below show. In 2014, FINRA fined broker-dealers a record amount of nearly $129 million dollars, roughly 10 percent greater than the total dollar amount assessed in 2017 and 2018 combined.