GRC hot topics
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
ACA and Ashland: Why We’re Excited to be the Best GIPS Compliance Verification and Performance Team in the World
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).
Financial institutions (“FI’s”) are required by Anti-Money Laundering (“AML”) regulations to perform risk-based due diligence for their customers and prospective customer.
- AML and Financial Crime
The SEC has been paying close attention to discrepancies in Form ADV filings, specifically reviewing assets under management. When Annual Updates are due, it’s important to pay close attention to how you calculate your regulatory assets under management (RAUM).
FINRA Rule 1250 requires registered persons to participate in Continuing Education (“CE”), with both Regulatory Element and Firm Element training. We break down these categories and how to differentiate them.
When opening a new office in the securities industry, FINRA’s Rule 3110(f) outlines the role of each associated office and registration requirements for each office type.
FINRA has received approval to update the requirement for disclosure and review of employee brokerage accounts. On April 13, 2016, the U.S. Securities and Exchange Commission (“SEC”) approved Financial Industry Regulatory Authority (“FINRA”) Rule 3210 (Accounts At Other Broker-Dealers and Financial Institutions) to replace current National Association of Securities Dealers (“NASD”) Rule 3050 (Transactions for or by Associated Persons). The effective date for this rule has not yet been determined.