On March 26, 2026, ACA became aware of an active phishing campaign targeting FINRA and SEC-registered financial services firms and advisers. While the scope of the phishing campaign is not yet known, multiple ACA clients have reported receiving messages and phishing emails claiming to be from contacts at FINRA or the SEC. All firms should […]
Active Phishing Campaign Impersonating FINRA and the SEC Read More »
Periods of geopolitical tension have always tested the resilience of financial institutions. But the current situation in the Middle East has revealed the extent to which modern operating models rely on interconnected systems, technology infrastructure, governance frameworks, and the availability of people. Against this backdrop, firms across the buy and sell-side are revisiting the fundamentals
Strengthening Business Continuity Planning Amid Heightened Regional Uncertainty Read More »
What One FCA Enforcement Action Teaches Us About Third-Party Insider Risk Insider dealing undermines fair markets, damages investor trust, and exposes firms to severe regulatory and reputational risk. Detecting it quickly is essential to maintain market integrity, and regulators are increasingly relying on firms’ surveillance capabilities to do so. We’re going to explore a recent
FCA Insider Dealing Case Reinforces the Need for Robust RegTech Controls Read More »
The FCA is raising the bar for wholesale buy-side firms; not by rewriting the rulebook, but by sharpening how it supervises against it. Its first Regulatory Priorities report for the wholesale buy-side replaces the traditional portfolio letter with a more explicit and structured articulation of supervisory focus. More importantly, it signals a shift in how
What Outcomes-Based Supervision Means in Practice for Buy-Side Firms in 2026 Read More »
Private markets firms are entering a supervisory phase that feels materially different from previous cycles. The FCA has signalled a busier supervisory agenda, with a sharper focus on how firms operate in practice. Enforcement activity may be more selective, but where action is taken, it is likely to be targeted and consequential. What’s noteworthy is
Private Markets Firms Face a More Intrusive Supervisory Cycle in 2026 Read More »
On March 17, 2026, the SEC (Commission) issued the Interpretive Rule (Interpretation), joined by the CFTC, clarifying how federal securities laws apply to certain types of crypto assets and transactions. The release introduces a five-category token taxonomy, reaffirms that the Supreme Court’s Howey test remains the governing standard, and provides detailed guidance on when a
The SEC and CFTC Issue New Crypto Asset Guidance Read More »
For Women’s History Month, we’re celebrating leaders whose careers demonstrate longevity, trust, and unwavering dedication to helping firms grow responsibly. Today’s spotlight features Kerry Rider, Partner, Head of ACA Wealth, and a long-time compliance professional who transitioned from in-house leadership to consulting, bringing nearly three decades of trusted advisory experience to clients. What inspired you
Women in Advisory Spotlight: Kerry Rider Read More »
A recent wave of industry headlines suggests that private credit has entered a more scrutinized and competitive phase. Rising instances of redemption constraints, valuation disputes, and portfolio markdowns are challenging longstanding assumptions about the asset class’s stability, transparency, and resilience. As semi-liquid vehicles and business development companies continue to attract increasing retail capital, managers are
Private Credit Under SEC Scrutiny as Liquidity Pressures Rise Read More »
New ACA Vantage benchmarking reveals where risk concentrates, and how firms can move the needle faster. In 2025, ACA Vantage for Cyber assessed cybersecurity posture across more than 300 portfolio companies (PortCos) spanning 18 industries and 12 countries, providing granular insight into where risk concentrates and which actions correlate with meaningful reduction. Three themes stood
What 2025 Revealed About Cyber Risk in PE Portfolios Read More »
Building investor confidence starts with regulatory credibility. In today’s competitive market, investors expect firms to demonstrate strong governance and compliance from the outset, making FCA authorisation and operational readiness critical. Launching an FCA-authorised firm in the UK is more than a regulatory milestone; it’s a signal to investors that your business is built on trust
Winning Investor Trust When Launching in the UK Read More »
