ACA Spotlight Blog

Compliance, risk, and technology insights and alerts

ACA's experienced compliance, risk, and technology professionals regularly provide insights on industry news, trends, and best practices. Our blog now consolidates all ACA compliance alerts, thought leadership articles, white papers, cybersecurity alerts, and results from ACA surveys to help you find the information you need more quickly and easily. For ACA compliance alerts prior to March 2019, see our News Archive.

Compliance

Compliance Alert

August 8, 2019

Deadline Approaching for Treasury International Capital (TIC) Form SHL (TIC SHL)

The U.S. Treasury and the Federal Reserve Bank of New York will collect data regarding non-U.S. residents’ holdings of securities of U.S. issuers via Form TIC SHL. This mandatory collection is conducted every five years. The filing deadline is August 30, 2019, and data must be reported as of June 30, 2019.

Performance

Thought Leadership

August 7, 2019

The 2020 GIPS Standards: Opening Doors for Alternative Managers

The 2020 edition of the GIPS Standards was released on June 28, 2019. One of the major initiatives of the overhaul was to make compliance with the GIPS standards easier for alternative managers.

RegTech

Thought Leadership

August 5, 2019

6 Hot Topics in Employee Compliance for the Dog Days of Summer

Is your code of ethics monitoring and personal trade surveillance compliance program built to beat the heat? This blog post recaps our recent webcast on this topic and provides best practices for navigating complex and evolving areas of compliance management, including cryptocurrency, pay-to-play, robo-advisors, and more.

Cybersecurity

Compliance Alert

August 5, 2019

CCPA Amendments to Be Finalized in October 2019

The California Consumer Privacy Act (CCPA) is scheduled to go into effect on January 1, 2020. There are seven amendments that will be contemplated by the CA legislature between now and September 13, 2019.

AML and Financial Crime

Six Ways Financial Organizations Stumble Over KYD for Financial Crime Technology

Thought Leadership

August 5, 2019

Six Ways Financial Organizations Stumble Over KYD for Financial Crime Technology

Effective AML compliance requires a data governance program to address the acquisition and management of the data – also known as “know your data” or KYD. This is a hot topic for financial institutions monitoring client transactions for money laundering, terrorist financing, or other forms of financial crime.

Compliance

Joint Statement About Broker-Dealer Custody of Digital Asset Securities

Compliance Alert - FINRA

August 1, 2019

Joint Statement About Broker-Dealer Custody of Digital Asset Securities

A company that effects transactions in digital asset securities for its own account or the accounts of others must register as a broker-dealer under Section 15 of the Securities Exchange Act of 1934. In addition, these companies must meet the requirements of Rule 15c3-3 (the “Customer Protection Rule”) if they intend to custody digital asset securities.

Europe

Firms’ non-financial misconduct under FCA spotlight thanks to SM&CR

Thought Leadership

August 1, 2019

Firms’ Non-Financial Misconduct Under FCA Spotlight Thanks to SM&CR

Sexual harassment and other forms of “non-financial misconduct” are now on equal footing with types of financial misconduct with the FCA. Firms and employees are at risk of regulatory sanctions for failure to fulfill the FCA’s evolving diversity and inclusion expectations.

Cybersecurity

Preventing Stormy Security Weather in Your Microsoft Office 365 Cloud Environment

Thought Leadership

July 30, 2019

Preventing Stormy Security Weather in Your Microsoft Office 365 Cloud Environment

Companies are relying increasingly on cloud service providers for conducting business, including storing data, hosting email, and more. But with the increasing regulatory focus on the risk of cloud data storage, is the forecast for cloud solutions stormy?

Cybersecurity

Capital One Breach Affects 100 Million Customers

Cyber Alert

July 30, 2019

Capital One Breach Affects 100 Million Customers

On July 29, Capital One Financial Corporation announced that it had suffered a breach on July 19. On that date, an outside individual illegally accessed the personally identifiable information of over 100 million of its customers.

Cybersecurity

Compliance Alert

July 30, 2019

New York State's SHIELD Act Signed into Law

The SHIELD Act significantly expands New York State's breach notification law.

Compliance

Compliance Alert - SEC

July 26, 2019

OCIE Issues Risk Alert Highlighting Deficiencies in Compliance, Supervision, and Disclosure of Conflicts of Interest

The SEC's OCIE issued a Risk Alert detailing compliance issues noted during examinations of advisers who hire or employ individuals with a history of disciplinary events.

Compliance

Form ADV Part 3 is Here – What You Need Know

Compliance Alert - SEC

July 25, 2019

Investment Adviser Standard of Conduct and Form CRS – What You Need Know (Part 2 of 2)

On June 5, 2019, the U.S. Securities and Exchange Commission issued the Standard of Conduct for Investment Advisers interpretation to reaffirm and clarify the SEC’s views of the fiduciary duty that investment advisers owe to their clients under the Investment Advisers Act of 1940.

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