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.

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.

ETF Solutions

We stand ready to advise you regarding the regulatory, financial, operational and distribution requirements of your exchange-traded funds (ETFs). We can act as the legal underwriter for your ETF or we can provide consulting and outsource fund officers for your ETF.

Fund Officer Services

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 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 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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New Prudential Framework: Impact Analysis for EU Investment Firms

The premise of the new rules will be to ensure investment firms have a prudential framework designed to be simpler and more proportionate to the operations of these types of firms. However, these changes will result in significant alteration to how investment firms measure their capital for regulatory purposes.

Article
  • Compliance
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Recent Regulatory Reporting Updates - What Your Firm Needs to Know

Firms in both the U.S. and the UK need to be aware of recent changes made to regulatory reporting forms.

Compliance Alert
  • Compliance
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Making a List, Checking it Twice: A CCO’s Guide to Finishing the Year Strong and Preparing for 2018

With only 19 business days left in the year, the pressure is mounting to cross those final compliance to-do’s off the list and finish the year strong.

Article
  • Compliance
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Wrap Up Compliance Projects by Year-End

Have you fallen behind schedule with your compliance testing and surveillance? Need an extra hand to assist with your annual compliance review? With year-end clearly in sight, we are avail

Article
  • Compliance
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Electronic Communications Monitoring – A No-Brainer for CCOs

In the five months since the SEC’s Office of Compliance Inspections and Examination (“OCIE”) issued request letters to registrants focused on advisers’ use of electronic communications, co

Article
  • Compliance
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OCIE Publishes Marketing Risk Alert

On September 14, 2017, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) issued a National Exam Program Risk Alert related to Rule 206(4)-1 under the Investment Advisers Act of 1940 (the “Advertising Rule”). The risk alert highlights the compliance issues most commonly noted by the SEC’s examination staff as part of a recent “Touting Initiative.” That initiative, which consisted of reviews of approximately 70 investment advisers, focused on the use of “accolades” in advertising.

Compliance Alert
  • Compliance

News

ACA Group Acquires Advanced Regulatory Compliance

Acquisition continues to reinforce ACA’s suite of leading GRC professionals and diversified services

ACA’s ESG Data and Analytics Solution Recognized for Its Impact on ESG Portfolios

Financial Services Review has named ACA Group’s ESG Data and Analytics solution, Ethos ESG, a “Top Wealth Management Solutions Provider” for 2022.

ACA Group Announces Its Adoption of the CFA Institute Diversity, Equity, and Inclusion Code

ACA adopts the DEI Code, an action-oriented and principles-based framework through which to drive meaningful change concerning diversity, equity, and inclusion.

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