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.
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.
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.
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.
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.
Who we work with
We provide solutions for the following types of firms.
Business Development Companies (BDCs)
We provides 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 CompaniesWe 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
The rules proposed by the SEC earlier this year revealed how the SEC’s examination and enforcement agenda is likely to unfold in the coming months and years, regardless of the ultimate outcome of those rules. Find out what your firm should be doing in light of these proposals.
With a surge in investor interest in ESG topics, as well as numerous firms attempting to set themselves apart from their peers through their commitments to issues like climate and sustainability, regulators have been busy working to establish consistency and transparency around ESG claims. What are the FCA's expectations from firms, and what are the anticipated challenges ahead?
FINRA recently issued a regulatory notice to remind firms to monitor digital signatures to prevent or detect forgery or falsification activities.
Learn how private fund managers can calculate extracted and hypothetical performance to the relevant portfolio, and identify and model its net performance in line with the SEC's new Marketing Rule.
- SEC Marketing Rule
The SEC has become increasingly concerned with the risks arising from employees’ increasingly wide-spread use of mobile electronic communications apps to conduct business. Learn about the risks and how private fund managers can more effectively track, archive, and surveil their employees’ business-related communications across all communication channels being utilized.
Coming into force on 4 November 2022, the SEC's new marketing rules introduce ssubstantial changes for all registered firms, wherever they are in the world. We outline why its key that firms familiarise themselves with the requirements now and take steps today to begin to implement these new compliance obligations, as several pieces of the work will take time and require resources
- SEC Marketing Rule
Leading global investment solutions firm chooses ACA’s ARRMA (ACA Regulatory Reporting Monitoring & Assurance) service to help manage its MiFIR and EMIR transaction reporting arrangements.
We’re pleased to announce that ACA Group has acquired Ethos ESG, a provider of environmental, social, and governance (ESG) ratings data and software for financial advisors, asset managers, institutions, and investors.