GRC Solutions for Mutual Funds, ETFs, and Other Investment Companies

Our Investment Company Practice supports registered investment companies, as well as their advisers and sub-advisers, board of directors, and service providers to help them build, enhance and add controls to their compliance programs to meet Investment Company Act of 1940 requirements and SEC and industry standards.

We offer objective, innovative, and effective compliance reviews and solutions to prepare registered investment companies, as well as their boards, sponsors, advisers, sub-advisers, and service providers, for the rigors of SEC examinations. We provide solutions to assist firms with managing and mitigating related operational, regulatory, and reputational risks.

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Our solutions

Address financial crimes-related threats and regulatory concerns with our team of former regulators and auditors. Our team can support with independent money laundering reviews for mutual funds and transfer agents, AML compliance program reviews, and more.

We offer broker-dealer chaperoning services to non-U.S. asset managers and broker-dealers that seek to market private funds in the United States without registering as a U.S. broker-dealer.

Strengthen your compliance program with our global team of compliance professionals.

Our consultants can provide training on the many topics mutual funds, ETFs, and other investment companies need to comply with, or you can choose to use any of our online modules to train your staff.

Build cyber and operational resilience across your firm with our team of cybersecurity and technology risk experts.

ACA Foreside can sponsor (apply for, obtain, and maintain) an NSCC membership participant number for domestic funds, collective trusts, and foreign funds. Additionally, we can provide guidance to clients and their transfer agents with respect to administration, implementation, and maintenance of funds’ operational policies and procedures.

Gain clarity on your firm’s ESG requirements and build a strong compliance program with our dedicated ESG advisory practice.

Launching an ETF takes the right partner.  We stand ready to advise you regarding the regulatory, financial, operational and distribution requirements of your exchange-traded funds (ETFs). 

Our Fund Officer model provides a hands-on, tailored approach by placing experienced and independent Fund Officers close to the Fund’s Board of Trustees. They are exposed to multiple administrators, counsel, and advisors, and have valuable industry perspective allowing for a better understanding of best practices.

We distribute over $1 trillion of product for over 200 fund families through our broker-dealers and serve as the legal underwriter for registered funds (mutual funds, closed-end funds, and ETFs) and placement agent for private funds.

Liquidity Risk Management Program Support

ACA’s Investment Company practice is dedicated to supporting our clients in navigating the SEC’s liquidity risk management program rule through educational resources and alerts, benchmarking insight, help with program management and development of policies and procedures, annual assessments, and more.

Maximize your firm’s time and efficiency with our technology-powered managed services. Our team can assist with on- and off-site CCO support and outsourced mutual fund advertising and marketing reviews.

Stay in compliance with the GIPS® standards and investment performance rules with the world’s largest team of GIPS standards verifiers.

We can maintain a private-label broker-dealer on behalf of your firm, allowing you to focus on your core business. Our private label broker-dealer offering provides an opportunity for firms to have ACA Foreside own and manage a broker-dealer branded by you and dedicated solely to you as the client.

ACA Foreside can assist with all aspects of your FINRA licensing needs for both registered and private funds.

Build a scalable and resilient compliance program with our ComplianceAlpha® regulatory technology  platform backed by managed services support.

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Who we work with

We provide solutions for the following types of firms.

Business Development Companies (BDCs)

We provide objective, innovative, and effective compliance reviews and solutions to assist business development companies, as well as their boards, sponsors, and service providers — with preparing for the rigors of an SEC examination.

Exchange Traded Funds (ETFs)

We provide objective, innovative, and effective compliance reviews and solutions to assist exchange-traded funds with preparing for the rigors of an SEC examination.

Registered Investment Companies

We offer diverse compliance review and compliance services, all scalable to individual client needs.

Variable Insurance Products

We help insurance companies and distributors understand and manage these complex compliance requirements and develop and implement the comprehensive, effective risk-based protocols necessary to meet regulators’ expectations.

Solution Spotlight

Investment company compliance solutions

Our team includes former regulators along with former along with former chief compliance officers and senior compliance managers from prominent financial institutions. Our team helps you to navigate the evolving regulatory landscape while considering the complexity of your firm’s unique compliance requirements.

Compliance solutions can include:

  • Adviser and fund policy and procedure customization and development
  • Mock SEC reviews
  • Rule 38a-1 compliance program reviews
  • Enhanced annual adviser compliance program reviews that is specific to Company Act requirements for advisers/sub-advisers
  • Customized focus reviews (e.g. liquidity risk management program, intermediary fees, cross trades, cybersecurity, valuation)
  • Compliance and internal audit testing support
  • Sub-adviser due diligence reviews
  • SEC inspection support
  • Mutual fund distributor reviews and financial intermediary oversight reviews (e.g. FINRA rule 3110, 3120)
  • Independent Consulting Mandate

By the numbers

Our market share

80%

of the top 100 mutual funds (as noted in the Mutual Fund Directory March 2020 ranking data)

Latest compliance insights

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U.S. Regulatory Update – September 2023

Summer is over, and the SEC has a heavy rulemaking agenda for this fall, so hold on to your seats!

Article
  • SEC
  • Compliance
  • Broker-Dealer
  • Investment Adviser
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Advisory Firm Settles Cherry Picking Fraud Charges With the SEC

This case should give pause to firms of all sizes to evaluate what they are doing to proactively detect potential market abuse on their own.

Compliance Alert
  • RegTech
  • ComplianceAlpha
  • SEC
  • Compliance
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SEC Private Fund Reform Rule: What Made the Cut

The SEC recently voted to adopt new rules and amendments, known as the Private Fund Reform Rule. Here's a summary of the new rules and how they changed from the original proposals.

Compliance Alert
  • Compliance
  • Performance
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The New TPF Regime: Treating Politicians Fairly?

The FCA has asked politically exposed persons to share their experiences with regulated firms as part of the regulator's review of firms’ treatment of PEPs.

Compliance Alert
  • Compliance
  • AML and Financial Crime
curved glass building looking up at a blue sky

SEC Adopts Private Fund Rules – What Firms Should Know

The SEC’s recent vote to adopt the Private Fund Reform Rule (IA-5955) presents some of the most significant private funds regulatory reform since the Dodd Frank Act. Read our summary of the Final Rules and our guidance for firms.

Compliance Alert
  • Compliance
  • SEC
  • Private Fund
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White Paper: Unveiling Industry Perspectives on the SEC’s Proposed Cyber Rule 206(4)-9

The public has weighed in on the SEC's proposed Rule 206(4)-9, which sets cybersecurity risk management expectations for investment firms. In this guide, we discuss the industry's reaction, exploring the main areas of concern for the Rule.

Report
  • Cybersecurity
  • Compliance
  • SEC

News

Cultural Connections: ACA's HOLA ERG Celebrates Hispanic Heritage Month

ACA is proud to celebrate Hispanic Heritage Month from September 15 - October 15 alongside our Hispanic/Latinx Organization for Leadership and Advancement (HOLA) Employee Resource Group (ERG)!

ACA Group Enhances Surveillance Capabilities for Off-Channel Communications to Navigate Rising Regulatory Scrutiny

New partnership with LeapXpert will help financial firms surveil multiple messaging channels to meet client expectations while ensuring regulatory compliance.

SEC Marketing Rule Continues to Dominate Investment Advisers' Compliance Concerns, Survey Reveals

The 2023 Investment Management Compliance Testing Survey results reveal marketing is still the top compliance concern. Cybersecurity and electronic communications follow closely behind.

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