ACA Spotlight Blog

ACA Spotlight Blog

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

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See a compilation of ACA's COVID-19-related news, insights, and resources for financial services firms here.

ACA's experienced compliance, risk, performance, cybersecurity, and technology professionals regularly provide insights on industry news, trends, and best practices. Our blog 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.

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Cyber Alert
May 7, 2020

Web hosting giant GoDaddy® has suffered a breach affecting thousands of users, per reports of security researchers. The data breach occurred in October 2019, but was first discovered on April 23rd of this year.

London city landscape
Compliance Alert - FCA
May 7, 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. 

CTA Promotional Material Relief for ECPs and Proposed Updates to Form CPO-PQR
Compliance Alert - CFTC
May 5, 2020

The NFA provided relief to CTAs that are also registered with the SEC to present past performance to ECPs on a gross basis in non-public, one-on-one presentations. The CFTC also proposed changes to the Form CPO-PQR revising the scope of information collected.

CFTC No-Action Letter: Temporary Fingerprint Card Relief for Principals and Associated Persons
Compliance Alert - CFTC
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
Thought Leadership
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.

SEC Fines Private Fund Manager
Compliance Alert - SEC
April 28, 2020

A recently settled enforcement action re-emphasizes the importance of issues highlighted in the SEC's 2017 Risk Alert related to Rule 206(4)-1 under the Advertising Rule. 

abstract man typing in front of stock market chart
Thought Leadership
April 28, 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.

April 2020 Broker-Dealer Newsletter
Newsletter
April 27, 2020

ACA Broker-Dealer Services invites you to download the latest edition of our newsletter. This issue highlights Consolidated Audit Trail, Where Are We Now?, The SEC Publishes FAQs for Reg BI, FINRA and OCIE Exam Priorities, NASAA Survey About Reg BI Implementation, FINRA Pandemic-Related Busines Continuity Planning, Guidance, and Regulatory Relief...

abstract motion blur cybersecurity composite
Cyber Alert
April 24, 2020

Learn how to protect yourself from the "zero-click” vulnerability discovered on Apple® iPhones® and iPads®  that enables bad actors to hack into devices by sending specially crafted email.

FinCEN Provides Relief and Guidance in Response to the COVID-19 Pandemic
Compliance Alert - FinCEN
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
Thought Leadership
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.

CRD Now Accepting Form CRS
Compliance Alert - SEC
April 23, 2020

The SEC released updated Form CRS FAQs on April 6,2020. Although the filing date is June 30, 2020, firms should start drafting their forms for filing as soon as possible.