This course is designed to assist Senior Management to embed a compliance ethos in the individual and a strong compliance culture throughout the firm.
The growth of the digital asset space in recent years has naturally led to the advent of “cryptocurrency hedge funds” and other investment management firms that make digital asset investments on behalf of their clients. As a result, digital assets including cryptocurrencies, initial coin offerings, and other blockchain focused assets continue to be a focus area for the U.S. Securities and Exchange Commission (SEC) and other regulators.
Our solutions are specifically designed to help firms align their advisory processes with regulatory requirements and the expectations of the SEC and the U.S. Commodity Futures Trading Commission (CFTC).
Bitcoin and other cryptocurrencies have brought new thinking to payments and financial inclusion, but they’ve also raised new issues of investor protection. If confirmed at the SEC, I will work to promote innovation.
Gary Gensler, SEC Chairman Nominee
We provide customized compliance solutions for advisers dedicated to managing digital assets, including cryptocurrencies, initial coin offerings, and other blockchain focused assets.
ACA assists with:
- Preparing and filing Form ADV
- CFTC registration and NFA membership
- Developing customized compliance policies and procedures
- Developing compliance infrastructure
- Implementing customized compliance programs
- Form ADV reviews
- IARD filings with appropriate state and federal regulators
- Private Fund Reporting Depository administration services
- Form PF reasonableness review
- NFA Online Registration System ("ORS") assistance
- Policy and procedure development
- SEC inspection support services
- Marketing and advertising reviews
- Secondment and compliance staffing solutions, from single day to long-term secondments
- On- and off-site assistance with periodic and ongoing compliance tasks and activities
- Focused performance reviews
- Regulatory Reporting Platform
- Cybersecurity and technology risk assessments
- Trade surveillance
- Education and training
Latest compliance insights
ESMA final report recommends expansion of transaction reporting regime to AIFMS and UCITS Management Companies
ESMA has published a final report assessing the functioning of the Transaction Reporting regime under Article 26 of the Markets in Financial Instruments Regulation (“MiFIR”). Among a number of proposed changes perhaps the most impactful is the recommendation that UCITS management companies and AIFMs that are providing one or more MiFID services (i.e., Collective Portfolio Management or ‘CPMI’ firms) should be subject to transaction reporting
- Trade & Transaction
On February 26, 2021, the U.S. Securities and Exchange Commission’s (SEC) Division of Examinations released a Risk Alert highlighting areas of concern found in its examinations of investment advisers and broker-dealers investing and dealing in digital assets that are securities. We believe that these recent Division observations highlight the SEC’s interest in Digital Asset Securities and are a precursor to additional scrutiny in these areas.
Apple has issued urgent updates for its iPhone, iPad, and iWatch devices. According to Apple, these updates patch a discovered “cross site scripting” vulnerability that allows bad actors to inject malicious code into web pages. The code could be enabled when users access these pages using browsers on Apple devices. This vulnerability may already have been exploited.
The SEC issued an FAQ officially confirming what has been informally communicated by Division of Investment Management staff, which is that investment advisers may not implement the new Marketing Rule until they are prepared to comply with it in its entirety. Note that this includes both the rules around traditional advertisements and the new requirements for solicitation arrangements.
- SEC Advertising Rule
The long-awaited modernization of the Marketing Rule was added to the Federal Register on March 5, 2021. Not only does the final marketing rule consolidate the advertising and cash solicitation rules, it also (among other things) categorizes certain considerations for presenting investment performance, effectively streamlining guidance currently found across multiple staff letters.
- SEC Advertising Rule
Russell Investments Selects ACA Group’s ComplianceAlpha to Modernize Their Risk and Compliance Program from a Single Platform
Russell Invesments has selected ACA's ComplianceAlpha® to help modernize and streamline their compliance program.
This week, ACA Compliance Group made the move to ACA Group, better known to our clients and industry partners as ACA.
There is just one week to go until Regulatory Horizon 2021 | Navigating Evolving Risks, our free-to-attend European based conference for financial services firms is running from 2-4 March. We outline five reasons why this event is worth adding to your calendar.
The role of the Money Laundering Reporting Officer (MLRO) is a mandatory position in all firms in the Financial Services Industry. This reflects the statutory objective that the Regulator(s) have for ensuring that firms behave with “Integrity”, particularly relating to financial crime prevention. The MLRO therefore plays a significant role in assisting Senior management to ensure that systems and controls relating to anti-money laundering (AML) and countering the risk of terrorist financing (CTF) are appropriate and effective. This course provides practical advice and guidance on the responsibilities of the MLRO, what is expected by the Regulators, both of the Senior Management and the MLRO, and how those responsibilities can be achieved. It should be noted that attendance at this course does assume a good knowledge of the UK’s AML/CTF regulations.
The role of the Compliance Officer is a mandatory position in all firms in the Financial Services Industry. They play a major role in assisting Senior Management to ensure that appropriate and effective systems and controls are in place to achieve and maintain compliance with the applicable Rules. While the nature of the Compliance Function is likely to differ from one firm to another, this course provides an easy to follow breakdown of what the Regulator expects of a Compliance Officer and explains, in practical terms how the regulatory expectations and those of Senior Management can be achieved.