The ever-increasing focus by the Regulators on the accountability of senior management, particularly when things go wrong, emphasises how important it is for individuals in senior positions to have a clear understanding of what is expected of them. This succinct course is designed to assist Senior Managers to have a full understanding of what they need to do to achieve compliance with the rules under the obligations created by the Senior Managers and Certification Regime (SMCR).
We provide bank asset management groups engaged in trust, custody, and investment management activities with risk, compliance and internal audit consulting services leveraging techniques used by banking regulators and industry leaders. ACA specializes in asset management, and its true value and competitive advantage is the breadth and depth of expertise at all levels of the firm including prior regulatory experience at agencies like the Office of the Comptroller of Currency (OCC), Department of Labor (DOL) and Securities Exchange Commission (SEC).
We help internal audit departments maintain their stature and credibility within their organizations by lending our experienced consultants to execute audit plans, including required annual fiduciary reviews. Our solutions fit any phase of the audit process including planning, fieldwork, wrap-up and reporting. We also support first- and second-line risk and compliance professionals by helping them efficiently and effectively manage fiduciary risk.
ACA supports first and second line risk and compliance professionals by helping them efficiently and effectively manage fiduciary risk. Risk advisory consulting engagements include policy development, risk and control reviews and gap analysis, regulatory issue remediation (MRAs), control testing, and more. ACA’s services and level of involvement can be tailored to our clients’ needs.
ACA’s expertise in asset management is a valuable resource for Chief Audit Executives (CAE) who engage our firm to:
- Comply with fiduciary audit requirements
- Verify the completeness of their auditable entities
- Assess the reasonableness of risk ratings and annual plans
- Plan, execute, wrap-up or report on internal audits through co-sourcing or outsourcing arrangements
- Train internal staff to transfer more audit work to in-house resources
- 12 CFR 9
- Regulation R
- Servicemember Civil Relief Act
- Military Lending Act
- Bank Secrecy Act
- Identity Theft Red Flag Monitoring
- Privacy rules and regulations
- Investment Company Act for SIDDs
- Other federal and state banking standards
- Transaction processing
- Trade settlement
- Income collection
- Cault controls
- Post-acceptance and annual reviews
- Investment policy
- Asset allocation
- Subadvisor due diligence and monitoring
- Best execution
- Performance calculation and reporting
- Alternative investments
- Investment management
- Pre-acceptance reviews
- Account administration
- Unique assets
- Fee arrangements
- Affiliate transactions
- Soft dollars
- Retail nondeposit investment sales program
- Municipal Advisor Act compliance
- Cybersecurity, privacy and risk
- Robo-advising & digital wealth advising
- Third-party risk management/ vendor management
August 05, 2021
With a growing European SPACs market and the UK's goal to make London more attractive to compete with other markets around the world, we outline key considerations for firms ahead of new SPACs listing rules coming into force on 10 August in the UK
- Managed Services
August 04, 2021
Fundraising and compliance challenges are expected to increase for private equity firms in the second half of 2021 into 2022. We speak with Private Equity Wire about why support that blends practical and regulatory advice is becoming critical.
- Regulatory Technology
FINRA Amends Rules 5122 and 5123 Filing Requirements to Include Retail Communications that Promote or Recommend Private Placements
August 04, 2021
On July 15, 2021, FINRA issued Regulatory Notice 21-26 to announce new amendments to Rules 5122 and 5123. Under the revisions, broker-dealers must file retail communications that promote or recommend private placement offerings subject to the rules’ filing requirements as of October 1, 2021.
August 03, 2021
ACA is continuing to see Outsourced Chief Investment Officer (“OCIO”) firms claim compliance with the Global Investment Performance Standards (GIPS®). Today, 38% of the top 50 OCIO firms by AUM claim compliance1. That is an 8% increase from 2020 to 2021 and the percentage is expected to grow by at least 10% from 2021 to 2022. In this article we look at the two main drivers behind OCIO firms ramping up quickly to claim compliance with GIPS.
August 03, 2021
With an abundance of optimistic growth projections centered around credit markets, 2021 is predicted to be a banner year for portfolios weighted in private debt. But just how easy is it to incorporate ESG criteria into a private debt portfolio?
July 30, 2021
Multiple firms (including ACA) have reported recent receipt of phishing emails claiming to be from Microsoft. The emails are clearly spoofed. In this alert, we explain how to spot a phishing attempt.
With less than six months to go until UK investment firms are subjected to a completely new prudential regime, a recent survey reveals that the industry is vastly underprepared. The data shows that just 4% of respondents are ready and capitalised for the FCA’s new Investment Firm Prudential Regime (IFPR) coming into effect in January 2022. Learn more about what this means for firms.
Waters Rankings 2021 Name ACA Group's ComplianceAlpha® Best Anti-Money Laundering Compliance Solution Provider
Our ComplianceAlpha® platform has been named Best Anti-Money Laundering Compliance Solution Provider in the Waters Rankings 2021.
ACA's Regulatory Reporting Monitoring & Assurance (ARRMA) service winner of the 2021 HFM European Technology Awards
Within a year of launching, ACA Group is delighted to announce that our ACA Regulatory Reporting Monitoring & Assurance (ARRMA) service has been selected as Best Regulatory Reporting Solution in the 2021 HFM European Technology Awards.
Senior management in Financial Services firms have a responsibility to ensure their employees have sufficient knowledge and understanding of the Regulatory environment they are working in. This knowledge helps in emphasising the need for compliance with policies and procedures in order to protect the firm and the individual from failing to “do the right thing”.
This course is specifically designed to assist Senior Management in meeting their statutory and regulatory obligations.