GRC hot topics
The Financial Crimes Enforcement Network issued an advisory to remind financial institutions that updates the FATF made to their list of jurisdictions that have strategic AML/CFT deficiencies may affect their obligations with respect to these jurisdictions and that they should consider the impact these updates have on the institution’s risk-based approach.
- AML and Financial Crime
Real estate title insurance giant First American Financial Corp. is being investigated by the SEC for a data leak that exposed over 885 million personal records from as far back as 2003.
Following the release of the 2020 GIPS Standards by CFA Institute on June 28, 2019, firms are encouraged to early adopt the new provisions. One such firm did early adopt, and ACA Performance Services is excited to announce we recently issued our first verification report under the 2020 GIPS Standards.
With a raft of regulatory changes coming into force over the last few years, financial firms have incurred many system, process, policy and procedure changes. Overseeing and managing all of the moving pieces presents a challenge for compliance teams. How can Senior Management and Compliance Officers be confident that their governance, risk, and compliance framework is current, sufficiently comprehensive and ultimately effective to avoid regulatory scrutiny?
Following the conviction of a former compliance officer of a major investment bank, the FCA raises concerns on the control of access to inside information. We examine the regulator's findings and recommendations, and what this means for financial services firms.
A survey conducted on preparation for the FCA’s Senior Managers and Certification Regime, (SM&CR) has revealed that most firms have significant work to do, as they prepare for its extension to all authorised firms on 9 December 2019.
The U.S. Treasury and the Federal Reserve Bank of New York will collect data regarding non-U.S. residents’ holdings of securities of U.S. issuers via Form TIC SHL. This mandatory collection is conducted every five years. The filing deadline is August 30, 2019, and data must be reported as of June 30, 2019.
The 2020 edition of the GIPS Standards was released on June 28, 2019. One of the major initiatives of the overhaul was to make compliance with the GIPS standards easier for alternative managers.
Is your code of ethics monitoring and personal trade surveillance compliance program built to beat the heat? This blog post recaps our recent webcast on this topic and provides best practices for navigating complex and evolving areas of compliance management, including cryptocurrency, pay-to-play, robo-advisors, and more.