News and Insights

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June 22, 2018 | Press Release

We’re proud to announce that ACA Aponix has been named Best Cyber Security Provider by The Drawdown‘s Private Equity Services Awards 2018. The awards recognize private equity service providers that have demonstrated exceptional client service, innovative product development, and sustainable business growth. The nominations were judged by a panel of leading private equity COOs, CFOs, COOs, GCs, and CTOs.

June 22, 2018 | Press Release
ACA Senior Principal Consultant, Alyssa Briggs, will lead the expansion

ACA Compliance Group (“ACA”) is pleased to announce that ACA Senior Principal Consultant, Alyssa Briggs, has relocated to the San Francisco Bay Area to oversee the continued growth and expansion of ACA’s West Coast private equity practice, while continuing to provide ACA’s clients with a range of regulatory compliance services.

June 21, 2018 | Compliance Alert

Below are the regulatory filing submission deadlines occurring from July through September 2018. All filings are supported by the ACA Regulatory Reporting solution ("ACA RR") except where noted.

June 20, 2018 | Case Study, Blog Article

A large OCIO manager and a large managed account platform, each with a large number of clients that invest in hedge funds through separately managed accounts (“SMAs”), needed a solution that could help them address the need for drill-through transparency into the constituent investments of these fund holdings. The clients chose ACA's NorthPoint Data Management Solutions' Data Warehouse and Security Master modules to solve these challenges.

June 19, 2018 | Blog Article

The European Union’s General Data Protection Regulation (GDPR) entered into force on 25 May 2018 after a last-minute scramble by organisations across the globe to establish their privacy programs and update privacy notices. Now that your firm has (hopefully) built its GDPR compliance program, what should you be doing to ensure ongoing compliance with the regulation?

To ensure ongoing compliance, here are 7 action items to consider:

June 13, 2018 | Compliance Alert

The FCA has recently published a Policy Statement and a Consultation Paper containing proposed remedies to the concerns first identified in its Asset Management Market Study (“AMMS”). These proposals apply to Authorised Fund Managers (“AFMs”)[1] in respect of their management of authorised funds, such as UCITS. In this alert we summarise the FCA’s key measures and consider any longer term implications for the wholesale investment management sector.

June 13, 2018 | Blog Article

As of June 1, 2018, registered investment companies (“funds”) are required to file Form N-CEN with the U.S. Securities and Exchange Commission (“SEC”) on an annual basis. This new form replaces the semi-annual census reporting on Form N-SAR and must be filed within 75 days of a fund’s fiscal year end (with an exception for unit investment trusts, which must file within 75 days of calendar year end).

Form N-CEN is broken into seven parts, as illustrated below:

June 12, 2018 | Press Release
Key features include integration with ACA’s ComplianceAlpha®, single sign-on (SSO) support, and a redesigned user interface.

ACA Technology Solutions, a division of ACA Compliance Group and a leading provider of investment management and regulatory compliance technology solutions, today announced the Version 3.0 release of ACA’s Decryptex® trade surveillance solution.

Key enhancements include:

June 7, 2018 | Blog Article
What is Portability?

Portability refers to the ability of a GIPS®-compliant firm to present a track record that was achieved at another firm. When one firm hires a portfolio manager, there is usually a desire to market the portfolio manager’s track record while employed at the prior firm. The same is true when a firm acquires or lifts out an investment team from another firm.

June 7, 2018 | Cyber Alert

ACA Aponix is excited to offer an e-learning course on the EU's General Data Protection Regulation (GDPR) that is designed for employees of GDPR-implicated organizations. As part of the requirements for GDPR, which went into effect on May 25, organizations that collect the personal data of EU residents must provide employees with GDPR privacy awareness training.

June 5, 2018 | Blog Article

We're pleased to announce that ACA Compliance Group ("ACA") is nominated for several categories in the Waters Rankings 2018. Please show your support by voting now in the following categories (one vote per person; for survey rules and eligibility, click here). Voting closes on Friday, June 8 at 6:00 PM ET. 

June 1, 2018 | Compliance Alert
Background 

In 1997, the SEC adopted rule 3a-4 under the Investment Company Act of 1940 (the “Company Act”) to “provide a non-exclusive safe harbor from the definition of Investment Company for certain advisory programs. These programs typically involve separately managed accounts or “mini-accounts”, asset-allocation programs, and even wrap programs, where the investment advisor manages accounts with common investment strategies in a similar manner (e.g. model based programs).

May 31, 2018 | Blog Article

In 2002, the Sarbanes Oxley Act was enacted to augment the regulation of accounting and disclosures for public companies. This was in direct relation to aggressive accounting methods, the technology bubble, and other instances of corporate malfeasance. The ensuing financial crisis and market crash of 2007-2009 uncovered a lack of oversight exhibited by numerous Ponzi schemes, as well as negligent lending practices in the real estate mortgage market.

May 29, 2018 | White Paper

For investment firms that want to comply with best practices and are ready to invest in business growth and marketing, the GIPS standards (Global Investment Performance Standards) are the de facto industry model for using performance figures in marketing materials, advertising, and presentations. GIPS compliance also serves to engender client trust through transparency and robust documentation and disclosure.

Click here to download the whitepaper.

 

May 25, 2018 | Blog Article

Summer is finally here! With Memorial Day marking the unofficial start to summer it’s time to take a break, but in the compliance industry it’s not as simple as turning on your “out of office” and walking out the door. Compliance officers and managers need the assurance that they can leave the office and still have the resources available to fulfill both their regulatory obligations and their fiduciary duty to clients.

May 17, 2018 | Blog Article

The GIPS® Technical Committee recently released three new GIPS Q&A’s that are all effective as of April 18, 2018. The Q&As provide clarification on Supplemental Information as well as guidance on Broadly Distributed Pooled Funds.

May 17, 2018 | White Paper

ACA is pleased to present, 18 Months into the Liquidity Risk Management Program Rule, a white paper examining the points of consideration for fund complexes and their advisers that have surfaced in the eighteen months since the rule took effect.

May 11, 2018 | Compliance Alert

In the current regulatory environment we are seeing increased regulatory oversight and enforcement, including:

Severe civil monetary penalties now reaching mid-size and small financial institutions;

May 11, 2018 | Cyber Alert

ACA Aponix has observed that some U.S. private equity fund managers may be unaware of the implications of the European Union’s General Data Protection Regulation (GDPR), which goes into effect on May 25, 2018.

May 2, 2018 | Survey

ACA Compliance Group and the IAA invite you to participate in the 2018 Investment Management Compliance Testing Survey. The survey is open to compliance professionals at SEC-registered investment advisers. The survey will remain open through Friday, June 1. 

May 1, 2018 | Blog Article

Hedge funds and hedge fund advisers that exceed the SEC’s Form PF filing threshold for “large” hedge funds/hedge fund advisers[1] find themselves with what can be viewed as a “good problem to have”: while good for business, exceeding the threshold also means more work thanks to being required to complete section 2 of Form PF on a quarterly basis.

April 26, 2018 | Blog Article

Consultant database reporting is an important business consideration for many investment management firms. The databases serve as a gateway for investment managers to reach institutional and retail assets alike. A recent trend in the industry is that of increased due diligence. The top databases are increasingly requiring firms to meet one of the following requirements:

April 26, 2018 | Compliance Alert

On April 18, 2018 the Securities Exchange Commission (“SEC”) held a meeting in which they requested comment regarding the “Standards of Conduct for Investment Professionals” proposal that would affect how services are provided to retail customers of Broker-Dealers (“BDs”) and Investment Advisers (“IAs”). The comment period for the proposal is open for 90 days after it is published in the Federal Register.

The proposal consists of three sections:

April 25, 2018 | Blog Article

A growing multi-affiliate private equity fund manager with approximately $1 billion assets under management was manually tracking its compliance tasks and reviewing marketing materials through email. In order to more efficiently manage its increasing compliance responsibilities, the firm wanted to implement a solution that would help streamline and automate these tasks. The client chose ACA's ComplianceAlpha® to solve these challenges.

April 24, 2018 | Compliance Alert

The European Securities and Markets Authority (“ESMA”) on April 4, 2018 issued its first analysis based on the Alternative Investment Fund Managers' Directive (“AIFMD”) Annex IV reporting requirements. For the last few years, firms have been subject to reporting Annex IV to individual or multiple jurisdictions in the EEA. This first analysis highlights three major points: