Financial institutions (“FI’s”) are required by Anti-Money Laundering (“AML”) regulations to perform risk-based due diligence for their customers and prospective customer. This due diligence is referred to as Customer Due Diligence (“CDD”).
The electronic communication mediums that investment advisers use to conduct business continue to evolve, posing a challenge to the compliance community’s ability to retain and adequately supervise the appropriate books and records.
Earlier this month, ACA announced that it is set to acquire Ashland Partners & Company, LLP's GIPS compliance verification and performance practice. When this transaction closes in June, ACA Performance Services will offer the most experienced team of GIPS compliance verifiers in the world, servicing over 1,000 clients annually, including 49% of the top 100 managers of institutional assets worldwide (as determined by Pensions & Investments magazine).
Cyber incidents can have devastating effects on business of all sizes. A breach or malware attack could cripple business operations, lead to financial losses, expose sensitive data, and cause reputational damage.