ACA Spotlight Blog

ACA Spotlight Blog

Risk and compliance alerts, insights, and resources for financial services firms
 

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October 20, 2020
Ten-years ago, ACA Compliance Group opened in the UK to expand our global presence and better serve our clients doing business in Europe. Learn more about the services and solutions we now bring to clients around the world from our European team
Horizon over globe
March 27, 2020
We recently brought together professionals from the global investment management community to speak at our conference, Regulatory Horizon 2020 | The Challenges Ahead. Find out the key compliance, technology, and cyber takeaways from the event.
SFTR Reporting – Non-EU AIFs Out of Scope
February 7, 2020
The European Securities Market Authority ("ESMA") and the European Commission have today confirmed that non-EU Alternative Investment Funds ("AIFs") (i.e. AIFs not established in the EU) will not be subject to Securities Financing Transaction Regulation ("SFTR") reporting obligations.
london sky at sunset
January 28, 2020
Last week, the FCA sent a Dear CEO letter outlining its refocused supervisory strategy for their firms. Find out what this means for asset management and alternative fund firms.
CSSF Brexit preparations: Action required for AIFMs, MiFID firms and UCITS firms
September 6, 2019
The Luxembourg regulator, (the CSSF) has outlined provisions to allow for contract continuity of existing relationships established and serviced via passporting rights under various EU directives for 12 months. Application deadline is 15 September 2019. What does this mean for financial services firms?
MiFID II transaction reporting
July 23, 2019
Whilst the FCA’s priorities appear, for the time being, to be on understanding the nature and scale of reporting data errors and how they are addressed, failings under MiFID I moved it to take several high-profile enforcement actions. It is imperative that firms get to grips with their MiFID II transaction reporting processes and data quality checks as soon as possible.
Market Abuse Regulation
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.
EMIR REFIT
June 17, 2019
The amended European Market Infrastructure Regulation (“EMIR REFIT” or simply “REFIT”) came into force on 17 June. It’s designed to simplify a derivatives regime currently seen as burdensome to some market participants, particularly those whose risk profile is unlikely to impact macro stability. In this note, we summarise the key reforms and give some pointers about what you need to think about.
FCA puts Private Markets Firms’ Anti-Money Laundering and Financial Crime Controls under the spotlight
June 13, 2019
Given the tone of the business plan with regards to financial crime, and a reiteration of its focus on firm governance and culture, it is no surprise that the assessments by the FCSST focussed on 6 areas. If the indications from the documents requested by the FCSST, and the interviews that took place during the onsite portion of the assessment, are anything to go by, it is clear the FCA is following through on its intent to be more intrusive.
View of buildings in the city
May 22, 2019
The FCA recently published the conclusions of its review of principal firms in the investment management sector. We examine the relevance of the findings and outline how the FCA rated Mirabella in the review.
FCA: Turning Up the Heat on Market Abuse
May 13, 2019
The Financial Conduct Authority (FCA) has made no secret of its intention to crack down on firms and individuals that fail to meet their obligations under the Market Abuse Regulations (MAR) and FCA rules.
Transaction Reporting: Six common failings
May 8, 2019
Hot on the heels of two well publicised MiFID I fines for transaction reporting failings, the FCA has published Market Watch 59, the content of which is totally monopolised by transaction reporting.  This signals that the regulator is now squarely turning its attention to failings under the MiFID II regime. The FCA once more reinforces the importance of complete and accurate transaction reports.