Join us for part four of our live webcast series about creating a best-in-class compliance program.
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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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.
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 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.
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.
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.
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.
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
To receive prohibited compensation, investment advisers and broker-dealers must comply with DOL's PTE 2020-02, including impartial conduct standards, required disclosures, policies, and an annual review.
The SEC will investigate advisers' use of electronic communication platforms. Advisors should review policies, poll employees, test email domains, and train staff to avoid penalties.
- eComms Surveillance
The SEC proposed various rule amendments to Regulation NMS to adopt variable minimum pricing increments, reduce access fee caps, and enhance the transparency of better-priced orders.
The SEC proposed new regulations requiring broker-dealers to establish policies on conflicted transactions, assess execution quality, and preserve regulation compliance records, among other specific provisions.
The SEC's proposed updates would expand the scope of entities subject to Rule 605, modify the reporting information it requires, and change how its orders are categorized.
Regulation S-ID, the “Identity Theft Red Flag Rule,” requires financial institutions to implement and administer a written program designed to detect, prevent, and mitigate identity theft for customers with “covered accounts.”
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.
The 2023 Investment Management Compliance Testing Survey results reveal marketing is still the top compliance concern. Cybersecurity and electronic communications follow closely behind.