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July 3, 2019 | Thought Leadership

This week marks three years since the Market Abuse Regulation (MAR) overhauled the civil market abuse regime across Europe, repealing and replacing the Market Abuse Directive (MAD) and the UK’s own domestic legislation.

Developed in parallel with the revised Markets in Financial Instruments legislative package (MiFID II), MAR significantly extended the reach of the European regulatory regime to capture a wider scope of markets, instruments and behaviours, and contained specific provisions to address the proliferation of technology-driven trading practices and platforms. Designed to...

July 2, 2019 | Compliance Alert - FCA

When the Alternative Investment Fund Managers Directive (“AIFMD”) came into force back in the heady days of 2013, it brought into the financial lexicon terms that are now well-worn phrases such as “Article 42” or “Article 36” and of course “reverse solicitation”. Ever since, the question has lingered as to when “marketing” of a fund under AIFMD actually begins, with almost every jurisdiction enforcing their own distinct boundaries.

July 2, 2019 | Newsletter

ACA Broker-Dealer Services invites you to download the latest edition of our newsletter.

July 1, 2019 | Thought Leadership

After much anticipation from the investment management community, CFA Institute released the 2020 GIPS Standards on June 28, 2019. The newest version represents the most significant changes since the 2010 edition of the GIPS standards went into effect on January 1, 2011.

June 28, 2019 | Cyber Alert

This alert contains information about a vulnerability discovered in Microsoft® Excel®, as well as information about a recent rise in spear-phishing attacks attributable to heightened international tensions.

Excel Vulnerability

On June 27, researchers at Mimecast published information on a vulnerability discovered in Microsoft Excel. This vulnerability allows bad actors to install malware on systems and remotely launch attacks.

June 26, 2019 | Thought Leadership

Our M&A Due Diligence Challenges blog series addresses the changing nature of IT, cybersecurity, and data privacy and how investors can manage these risks and increase their chances of achieving a successful M&A transaction. We also discuss tales from the trenches and lessons learned from M&A due diligence we have performed for clients.

June 25, 2019 | Thought Leadership

Every few years, ACA Compliance Group and eVestment release a joint survey that queries industry participants on the value of compliance with the GIPS standards. One continual trend that we have noticed is an uptick in interest among alternative asset managers in the GIPS standards.

June 17, 2019 | Compliance Alert - EMIR

The amended European Market Infrastructure Regulation (“EMIR REFIT” or simply “REFIT”) came into force on 17 June. It’s designed to simplify a derivatives regime currently seen as burdensome to some market participants, particularly those whose risk profile is unlikely to impact macro stability. In this note, we summarise the key reforms and give some pointers about what you need to think about.

June 17, 2019 | Press Release

ACA Compliance Group is pleased to announce the continued expansion of its online training platform to include its newest course on sexual harassment awareness and prevention.

In recent years, the topic of sexual harassment in the workplace has come into the national spotlight, bringing with it a renewed awareness about the serious and unacceptable nature of this type of behavior and its implications for employers and employees alike.

June 13, 2019 | Compliance Alert - FCA

Given the tone of the business plan with regards to financial crime, and a reiteration of its focus on firm governance and culture, it is no surprise that the assessments by the FCSST focussed on 6 areas. If the indications from the documents requested by the FCSST, and the interviews that took place during the onsite portion of the assessment, are anything to go by, it is clear the FCA is following through on its intent to be more intrusive.

June 13, 2019 | Compliance Alert - SEC

On June 5, 2019, the SEC passed Regulation Best Interest (“Reg BI”). Broker-dealers will be required to act in the best interest of their retail customers when recommending any securities transaction or investment strategy. Here's what you need to know.

June 11, 2019 | Compliance Alert

Although there are political signals that the current U.S. administration will provide financial institutions regulatory enforcement relief in comparison to years prior, this is not the case. As evidenced by the consistent penalties enforced over the past several years, AML/BSA regulatory enforcement remains a top priority.

June 7, 2019 | Press Release

ACA Compliance Group (ACA), a leading provider of governance, risk, and compliance advisory services and technology solutions, today announced enhancements to ACA’s trade blotter review analysis offering. Available today, this new automated trade blotter review tool is designed in response to challenges faced by SEC-registered investment adviser clients in keeping pace with the SEC’s enhanced use of technology to detect insider trading, market abuse, and other potential misconduct.

June 5, 2019 | Thought Leadership

ACA's Spring 2019 Compliance and Performance Conference was held May 8-10 at the Mandarin Oriental in Miami, Florida.

June 4, 2019 | Thought Leadership

Claiming compliance with the Global Investment Performance Standards (GIPS) is gaining significant traction with credit asset managers due to the increased demand from institutional investors.

May 30, 2019 | Thought Leadership

Vendor risk management can be painful, time-consuming, and expensive. Get the secret ingredient to capture the full range of vendor risks in our latest blog post.

May 30, 2019 | Thought Leadership

With data breaches, social engineering attacks, extortion, hacking, and other cyber threats on the rise, it’s become increasingly vital for private equity firms to manage their firm’s cyber, IT, and data privacy risks as well as those of their prospective and current portfolio companies. Here's what you need to know to protect your investments.

May 29, 2019 | Thought Leadership

More and more, regulators are examining AML and terrorist financing monitoring software solutions to see if they are tuned correctly; and citing financial institutions who fail to meet the regulatory standards. One issue for both regulators and these institutions is the creation of excessive volumes of “false positive” activity alerts, or alerts on activity that after evaluation, is not determined to be suspicious.

May 29, 2019 | Compliance Alert - OCC

The Office of the Comptroller of the Currency (“OCC”) recently issued its Spring 2019 Semiannual Risk Perspective, a recurring report of key risk areas and emerging threats to the federal banking system that are monitored by the OCC's National Risk Committee. In this blog post, we summarize the risk areas that impact banking asset management groups, and operational risk, strategic risk, and BSA/AML.

May 28, 2019 | Compliance Alert - SEC

On May 23, the U.S. Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert regarding the security associated with cloud and network data storage solutions.

May 24, 2019 | White Paper

ACA Compliance Group is pleased to present their newest survey results in the form of a white paper, 2019 Liquidity Risk Management Program Rule Survey Results.

May 22, 2019 | Compliance Alert - FCA

The FCA recently published the conclusions of its review of principal firms in the investment management sector. We examine the relevance of the findings and outline how the FCA rated Mirabella in the review.

May 22, 2019 | Compliance Alert - SEC

The U.S. Securities and Exchange Commission (SEC) has commenced a series of cybersecurity examinations on registered investment advisers (RIAs) which targets Form ADV data related to cloud service providers.

May 17, 2019 | Compliance Alert - FINRA

FINRA recently issued Regulation Notice 19-18 (the “Notice”), which provided guidance to member firms regarding their monitoring obligations with respect to suspicious activity pursuant to the Bank Secrecy Act (“BSA”) and anti-money laundering (“AML”) requirements.

May 16, 2019 | Thought Leadership

Third-party risk management can be painful, time-consuming, and expensive. Get the pain-free solution to effective vendor due diligence in our latest blog post.