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.

Joint Statement Issued About BSA Due Diligence Requirements for Customers
Compliance Alert - FinCEN
September 11, 2020

FinCEN and the U.S. banking agencies issued a joint statement clarifying FinCEN's CDD requirements for PEPs. The statement also described the risk-based compliance approach associated with such requirements under the BSA.

Thought Leadership
September 7, 2020

The importance of ensuring complete, accurate and timely reports under EMIR is in the spotlight again. This follows a recent response from the European Systemic Risk Board (ESRB) to ESMA’s March 2020 Consultation Paper on reporting to trade repositories. Reporting firms are well advised to see the response as a shot across the bows and an indication of things to come.

Summer Reading Series Top 10 Articles
Thought Leadership
September 4, 2020

As summer winds down and we gear up for a busy fall we thought we’d take a moment to look back at the most popular ACA articles so far this year.

Compliance Alert
September 3, 2020

The FCA recently added a webpage reminding solo-regulated firms of their obligation to report breaches of its conduct rules (and ensuing disciplinary action) as required under the Senior Managers and Certification Regime (SM&CR). 

Public, Private or ‘Private Private’: Do you have the right information barriers?
White Paper
August 25, 2020

Throughout the lockdown, the FCA and SEC have voiced thier expectation that private information is handled appropriately and that firms maintain adequate and appropriate information barriers. Firms should revisit what is considered “private” information and how that can get a little grey and nuanced in the private markets sector.

New Guidance for Characterizing Certain Broker-Dealers Under SEC’s Customer Protection Rule
Compliance Alert
August 18, 2020

The SEC and FINRA issued updated guidance on the characterization of U.S. broker-dealers under the Customer Protection Rule. This new guidance states that Non-Covered Firms that solely engage in Non-Covered Firm activities are no longer subject to any Rule 15c3-3 requirements.

woman using compliancealpha mobile app
Product Update
August 18, 2020

We’re excited to launch the mobile version of ACA's ComplianceAlpha risk and compliance management platform to help make compliance easier and more accessible for your firm.

FINRA Warns of Fake Agency Website
Cyber Alert
August 17, 2020

FINRA issued an alert regarding the appearance of a fake website purporting to be from the authority. The fake website uses the domain “finnra.org” in which the letter “n” appears twice.

SEC OCIE Issues Risk Alert on COVID-19-Related Compliance Risks and Issues
Compliance Alert
August 14, 2020

The U.S. Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) has issued a risk alert on the COVID-19-related risks, issues, and challenges faced by SEC-registered investment advisers and broker-dealers, including those resulting from the widespread use of telecommuting practices and pandemic-related market volatility.

Survey
August 12, 2020

Benchmarking your firm’s cybersecurity program against those of your peers is a smart way to identify the compliance gaps your firm should address. Here are the results of the 2020 NSCP / ACA Aponix Cybersecurity Compliance Programs Survey.

Preventing Financial Crimes
Thought Leadership
August 6, 2020

Money laundering has become a global concern over the past several years. In response, the U.S., Cayman Islands Monetary Authority and the EU are taking steps to increase AML efforts in their jurisdictions, and it is likely that other countries will follow suit in the coming years.

Thought Leadership
July 31, 2020

Many authorities are questioning whether mandatory password reset policies are worth the hassle.  Get ACA's guidance on when, if ever, you can remove or relax your password reset policy.