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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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.
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
of the top 100 mutual funds (as noted in the Mutual Fund Directory March 2020 ranking data)
Latest compliance insights
![Bank Bank](/sites/default/files/styles/width_280/public/2023-03/bank.png.webp?itok=VevgPRz-)
The Fifth Circuit Court of Appeals Rules to Vacate the SEC's Private Fund Adviser Rules
Although the court ruled to vacated the SEC's Private Fund Adviser Rules, we do not see this as a moment to "put pencils down,” but rather to monitor closely and continue with compliance readiness under potential appeal outcomes.
- Compliance
- SEC
- Private Fund
![ACA View](/sites/default/files/styles/width_280/public/2023-05/view_betwen_2_buildings_0.png.webp?itok=gby-Y-5b)
The Overseas Funds Regime
Marketing a new fund in the UK that is domiciled overseas to retail investors is about to change. New EEA UCITS could be coming to market in the UK by November, 2024.
- FCA
- Compliance
![Compliance alert default blog image curved glass building looking up at a blue sky](/sites/default/files/styles/width_280/public/2022-03/AdobeStock_214611064_1200x900.jpg.webp?itok=g--fk6Xn)
Changes Coming to the NFA’s Member Questionnaire (Formerly Known as the Annual Questionnaire)
New amendments adopted by the NFA will require individuals who are both a principal and an associated person to review, sign, and submit the Member Questionnaire.
- Compliance
![Compliance alert default blog image curved glass building looking up at a blue sky](/sites/default/files/styles/width_280/public/2022-03/AdobeStock_214611064_1200x900.jpg.webp?itok=g--fk6Xn)
FINRA Maintenance Margin Requirements Become Effective May 22, 2024
FINRA’s amendments to Rule 4210 requires members to collect margin for each counterparty's excess mark or market loss related to covered agency transactions.
- Compliance
- FINRA
![London at night London at night](/sites/default/files/styles/width_280/public/2021-07/London%20at%20night%201200%20px.jpg.webp?itok=qAb-qK_s)
Ten Advantages of Pursuing FCA Authorisation
We outline ten reasons why seeking FCA authorisation can bring benefits beyond compliance, including enhanced credibility, market access, investor confidence, and long-term sustainability.
- FCA
- Compliance
![Compliance alert default blog image curved glass building looking up at a blue sky](/sites/default/files/styles/width_280/public/2022-03/AdobeStock_214611064_1200x900.jpg.webp?itok=g--fk6Xn)
SEC Examinations Division to Evaluate Firms’ Readiness for T+1
The SEC Examinations Division issued a risk alert reminding broker-dealers, clearing agencies, and investment advisers of their new obligations in connection with the transition to T+1 settlement of certain securities transactions.
- Compliance
- SEC
News
Advisers’ Concerns of Off-Channel Communications Surpasses the Marketing Rule as Top Compliance Concern, Survey Reveals
Advisers’ concerns of off-channel communications eclipsed the Marketing Rule as the top compliance concern, according to the 2024 Investment Management Compliance Testing Survey.
ACA Group Named Most Preferred Workplace by Marksmen/India Today 2024-2025
ACA Honored with Marksmen/India Today Award for Most Preferred Workplace for 2024-2025
Apex Group and ACA Form Strategic Partnership to Enhance Client Experience
Apex Group and ACA form strategic partnership to enhance client experience. The alliance enables clients to seamlessly identify a reputable service provider that will help support and protect their business.