Responsible investment is entering a new phase. The UN Principles for Responsible Investment (UN PRI)’s 2026 Reporting Framework, together with key themes from the recent PRI in Person conference in São Paulo, signal a shift towards streamlined requirements and shifting expectations for signatories. Here’s what’s driving these changes and how you can prepare. UN PRI […]
Preparing for UN PRI 2026 Reporting Requirements Read More »
The SEC recently released a no-action letter1 allowing broker-dealers to pay transaction-based compensation due to a representative through the representative’s owned personal services entity (PSE). The request letter came from the Financial Services Institute (FSI), on behalf of its member broker-dealers who classify their registered representatives (RRs) as independent contractors. These independent contractors would often
New SEC Guidance on PSE Compensation Structure Read More »
In recent years, business development companies (BDCs) have emerged as a powerful tool for retail investors to gain exposure to private credit and private equity strategies—asset classes traditionally reserved for institutional investors. These vehicles offer a unique opportunity to participate in the growth of middle-market companies while benefiting from the income-generating potential of private credit. Explosive Growth
Accessing Private Markets Through BDCs Read More »
Private equity firms continue to face a shifting regulatory landscape, with increasing expectations around governance, valuation, and financial crime controls. At a recent peer discussion tailored to the sector, compliance leaders at our latest Compliance Officer’s Breakfast in London explored how firms are adapting to these pressures in real time. The session was co-hosted by Michael Strug, Director in ACA’s
Compliance Leaders Discuss Evolving Expectations in Private Equity Read More »
The FCA has charged a former employee of a major investment bank and an associate for alleged insider dealing linked to a corporate takeover. According to the FCA, confidential information was misused for personal gain, resulting in significant profits. The case was detected through advanced market surveillance and is now progressing through the courts. This
FCA Insider Dealing Charges Signal a Wake-Up Call For Market Abuse Controls Read More »
The 2025 Global Investment Performance Standards (GIPS®) Conference delivered critical updates about the evolving landscape of performance reporting and compliance. Key discussions focused on GIPS standards enhancements, the SEC Marketing Rule FAQs, and emerging best practices in attribution, private fund reporting, ethics, and leadership. The CFA Institute also reaffirmed its commitment to driving adoption of the GIPS Standards among OCIO firms and asset owners. GIPS
Key Updates from the 2025 GIPS Standards Conference Read More »
ESG regulations continue to evolve rapidly. A key development this quarter is the proposed draft of the EU’s revised Sustainable Finance Disclosure Regulation (SFDR 2.0) on 7 November. This signals a major shift toward clarity, usability, and global alignment. ACA’s ESG Horizon Q4 2025 newsletter offers a concise overview of key ESG requirements, deadlines, and
Your Guide to Critical ESG Updates in Q4 2025 Read More »
The FCA’s latest consultation, CP25/32, proposes a major overhaul of the UK MiFIR transaction reporting regime designed to streamline obligations and reduce compliance costs for firms. This marks a pivotal shift toward a more proportionate, UK-focused, and streamlined regime that reduces complexity, cuts costs, and improves clarity. Transaction reporting has long been a source of
The FCA Signals a Major Shake-Up in Transaction Reporting Read More »
Company: Large mutual fund company with over $100 billion in assets under management Locations: Multi-regional presence across North America Industry: Equity and fixed income markets Background Fixed Income Oversight Gaps Identified by Regulators A leading mutual fund manager with a diverse portfolio across asset classes had long maintained robust transaction cost analysis (TCA) and best
How TCA Exposed a Hidden Conflict of Interest in Fixed Income Trading Read More »
On November 20, 2025, the European Commission proposed changes to the Sustainable Finance Disclosure Regulation (SFDR 2.0). These changes signal significant reforms to EU sustainability disclosure rules. The proposal will move to the European Parliament and Council for approval, with implementation expected between 2027 and 2028. This revision is part of the European Commission’s broader
SFDR 2.0 Proposal Signals a Major Overhaul of ESG Rules Read More »
