ACA Group Unveils Outsourced Chief Compliance Officer Practice
Formerly operated under Foreside, ACA relaunches the practice to broaden its suite of offerings
New York, NY, September 14, 2022 – ACA Group, the leading global provider of governance, risk, and compliance (GRC) solutions to clients in the financial services industry, today announced it has launched a dedicated outsourced chief compliance officer (OCCO) practice for the financial services industry.
The OCCO practice was formerly operated under Foreside prior to its merger with ACA in May and has been relaunched with ACA to serve the unique needs of various financial services firms, such as private equity, hedge fund, wealth and asset management, broker dealers, and more. The practice brings a hybrid approach to compliance, driven by a deep bench of former regulators, CCOs, and compliance personnel and enabled by innovative regulatory technology. Through this practice, firms are assigned a singular CCO from ACA who assumes the responsibility of overseeing compliance duties on their behalf.
This is the latest GRC offering from ACA Group, which provides regulatory, cyber, ESG, regulatory hosting and distribution, and performance advisory support, alongside dedicated managed services and cutting-edge technology, to the global financial services community.
“Financial services firms globally and their employees are up against a number of obstacles – margin and asset decline, personnel turnover, wearing too many different hats, and finding ways to leverage technology efficiently,” said Shvetank Shah, CEO of ACA. “Outsourcing chief compliance officers allows companies to deliver quality, consistency, resources, and scale with an established leader in the space.”
ACA’s OCCO practice provides the following services to clients:
- Advises a firm’s senior management team on important compliance decisions
- Creates and tests a firm’s compliance policies and procedures, incorporating new or amended regulations, best practice recommendations, and other guidelines
- Conducts training for all SEC- or FINRA- registered personnel on code of ethics, conflicts of interest, and compliance policies and procedures
- Reviews marketing and advertising materials via ACA’s ComplianceAlpha® regulatory technology platform
- Monitors employee activities, including personal trading, outside business activities, and political contributions
- Conducts regular site visits
- Collects, organizes, and analyzes relevant compliance data and makes inquiries of management and service providers as needed
- Coordinates annual filings, including the annual Form ADV amendment and any interim material revisions
- Conducts and documents annual reviews of compliance policies and procedures
- Provides support during regulatory examinations
Learn more about ACA’s OCCO practice here.
ACA Group (“ACA”) is the leading governance, risk, and compliance (GRC) advisor in financial services. We empower clients to reimagine GRC and protect and grow their businesses. Our innovative approach integrates advisory, managed services, and distribution solutions with our ComplianceAlpha® regulatory technology platform with the specialized expertise of former regulators and practitioners and a deep understanding of the global regulatory landscape.