Highlights From the 2024 ACA Conference

In the ever-evolving realm of financial services, governance, risk, and compliance (GRC) stand as the bedrock of integrity and trust. As the curtains close on the 2024 ACA Conference, the echoes of transformative dialogue and insightful revelations resonate, shaping the trajectory of GRC in financial services.

Investment advisers operate in a landscape of increasing regulatory complexity, where adaptation to emerging technologies and evolving regulations is paramount to success. ACA's CEO, Patrick Olson, expressed gratitude for the collective resilience and determination displayed by attendees throughout extreme geopolitical and environmental challenges worldwide. The event facilitated meaningful exchanges of insights and strategies, fostering a spirit of collaboration and continuous improvement.

We saw significant participation at the conference, with almost 450 attendees representing diverse sectors across the U.S. financial services industry, such as private equity, wealth management, asset management, and hedge funds. We were proud to host over 75 industry speakers across 29 sessions, covering a wide range of topics crucial for compliance professionals.

Discover the main themes, anchored in data-driven insights, and bolstered by the collective wisdom of industry leaders. You will also see the connections built and the vibrant community fostered during our memorable event in this article.

Foster innovation to pioneer tomorrow's compliance landscape

Amidst the rapid advancement of technology, the imperative for innovation in compliance has never been more pressing.

At the conference, industry leaders convened to chart a course through uncharted territories, driven by the transformative power of Artificial Intelligence (AI). With bold strides, we explored AI's dual nature – a harbinger of both risks and opportunities. Through insightful sessions and visionary keynotes, attendees worked to unlock the full potential of technology and innovation to propel compliance excellence into the future.

In the session "The Evolution of Communications Surveillance," attendees engaged in a profound exploration of detection methods and permissible communication channels.

Poll results revealed that 60% of firms leverage both random sampling and lexicon-based detection, underscoring a multifaceted approach to surveillance. With 34% permitting internal collaboration tools for business purposes, the imperative for robust surveillance mechanisms becomes clear. It's evident that the convergence of technology and vigilance is essential in safeguarding the integrity of communication channels.

Adapt to regulation by fortifying your foundations

As regulatory landscapes evolve, adaptability becomes our greatest asset.

Our recent in-person conference served as a vessel for shaping resilient compliance frameworks capable of withstanding the tempest of regulatory change. From dissecting the Private Fund Adviser Rules to navigating the maze of cybersecurity priorities, attendees learned how to strengthen their defenses against emerging threats.

With unwavering resolve, we embraced the challenge of regulatory evolution, united in our commitment to uphold the highest standards of compliance. Against the backdrop of escalating cyber threats, the "Navigating the SEC's Cybersecurity Priorities" panel underscored the pressing need for vigilance. The session poll results revealed increasing concern, with 51% moderately concerned about their firm's liability for compliance with proposed SEC cybersecurity rules. Amidst this backdrop, 68% of session attendees are engaging third-party vendors to review cybersecurity programs, highlighting a proactive stance in maintaining independent oversight.

As AI emerges in a new frontier in cybersecurity risk assessment, firms grapple with the complexities of materiality determinations post-incident, with 68% considering a mix of qualitative and quantitative factors. Harder to determine if a cyber incident with your AI is material? 

Harnessing technology to enable compliance champions

In the digital age, technology emerges as an impressive ally in the quest for compliance mastery.

Through immersive workshops and dynamic discussions, attendees harnessed the transformative power of RegTech solutions. From streamlining compliance processes to bolstering cybersecurity defenses, technology emerged as a force multiplier in our pursuit of excellence.

Compliance teams were able to learn strategies to gain operational efficiency by leveraging regulatory technology (RegTech) solutions. The ability to automate and digitize compliance processes plays a pivotal role in growing and protecting a compliance program’s resilience. Technology can help firms to navigate increased complex oversight and management of cybersecurity, data management, marketing compliance, surveillance, and more.

Financial services firms continue to explore new avenues for innovation, empowering their compliance teams to navigate the complexities of the digital frontier with confidence and precision.

Building bonds to inspire change and create community

Beyond the confines of conference halls, a vibrant community of compliance professionals converged, bound by a shared commitment to excellence.

As connections were forged and insights exchanged, the conference became an avenue for collective growth and inspiration. From seasoned veterans to aspiring newcomers, each voice added depth to the dialogue, enriching our understanding of the GRC landscape.

The conference was a testament to the strength of the financial services community's commitment to compliance excellence.

Looking ahead

The 2024 ACA Conference was not just an event; it was a dynamic platform for industry leaders to chart a course through the complexities of GRC. By fostering innovation, adapting to regulation, and harnessing technology, the conference reinforced ACA's commitment to excellence and collaboration within the financial services community.

As we reflect on the resounding success of the 2024 ACA Conference , it's essential to carry that momentum forward with the spirit of innovation, resilience, and community. Additional resources will be compiled to further explore the insights and themes discussed during the event. Stay tuned for valuable resources and tools to enhance compliance strategies.

Let's continue this journey together, navigating the ever-evolving landscape of compliance with confidence and integrity.