ACA Spotlight Blog

ACA Spotlight Blog

Compliance, risk, and technology insights and alerts for financial services
 

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COVID-19

 

abstract motion blur cybersecurity composite
May 27, 2020
Microsoft Security Intelligence has issued a security warning for a massive malware attack from emails about COVID-19 purportedly from Johns Hopkins Center. Learn more about this attack and how to defend your systems.
city view with electronic mesh
May 21, 2020
Read our guidelines for best privacy practices in implementing contact tracing and symptom tracking of employees as stay-at-home restrictions begin to ease and employees who have been working from home return to the office.
tower bridge at night composite image
May 20, 2020
The Financial Services Regulatory Initiatives Forum (‘FSRIF’ or the ‘Forum’) recently published its Regulatory Initiatives Grid to help the financial services industry understand, and plan for regulatory change as a result of COVID-19. We examine the impact and areas of focus.
SEC COVID-19/BCP Examination Request
May 19, 2020
The U.S. Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) announced in March that it intends to engage in an ongoing outreach with registrants to assess the impacts of COVID-19, including challenges impacting operational resiliency. In the last few weeks, ACA has seen an increase in the number of examinations announced by the SEC examination staff.
abstract road high speed horizon
May 14, 2020
In this blog post, we share peer insights into how financial firms’ CCOs are navigating today's challenges, evolving regulatory expectations, and looming economic realities, along with ACA's expertise into how CCOs can adjust their compliance programs for long-term success in this environment.
London city landscape
May 5, 2020
The FCA recently published its pragmatic yet ambitious annual Business Plan for 2020-21, which makes it clear that the current COVID-19 crisis will neither derail the regulator's multi-year strategy nor lead to a relaxation of its policing mission. We examine what the regulator's plans mean for financial services firms. 
CFTC No-Action Letter: Temporary Fingerprint Card Relief for Principals and Associated Persons
April 30, 2020
Due to the ongoing COVID-19 pandemic, the National Futures Association has suspended its applicant fingerprinting service for its registrants and their principals and associated persons. The social distancing requirements have made it difficult to comply with the requirements set forth in CFTC Regulation 3.10 and 3.12.
woman using laptop
April 29, 2020
In the current environment created by the COVID-19 pandemic, remote working (usually from home) has become the new norm. Firms and their staff must be flexible to adapt to fresh challenges while maintaining business disciplines, systems and controls. This complimentary training webcast is designed to help ensure that staff, regardless of their role, do not forget their core compliance responsibilities during this period.
abstract man typing in front of stock market chart
April 27, 2020
With the current market volatility and the “new normal” of remote work, firms should ensure their Code of Ethics program is adjusted to comprehensively monitor for the new employee risks brought about by this environment. In this blog post, we share what concerns firms have regarding their Code of Ethics, as well as best practices for enhancing your firm's Code of Ethics program.
FinCEN Provides Relief and Guidance in Response to the COVID-19 Pandemic
April 24, 2020
On April 3, 2020, FinCEN finally issued relief to financial institutions experiencing challenges meeting certain compliance requirements during the COVID-19 pandemic. FinCEN and banking regulators like the OCC recognize there may be reasonable delays in complying with timing requirements for certain Bank Secrecy Act report filings.
How to Identify and Avoid COVID-19-Related Fraud
April 24, 2020
It is inspiring to see, hear, and read each day about the many acts of charity, kindness, sacrifice, thoughtfulness, and support that have come out of the COVID-19 pandemic. However, there are also fraudsters, scammers, bad actors, and criminals looking for opportunities to take advantage of the vulnerable and profit from illegal activities.
April 23, 2020
This week, the FCA announced temporary extensions to the submission deadlines for certain regulatory reports due between now and 30 June 2020. We examine how this impacts financial services firms.