Insights
Six Ways Financial Organizations Stumble Over KYD for Financial Crime Technology
Effective AML compliance requires a data governance program to address the acquisition and management of the data – also known as “know your data” or KYD. This is a hot topic for financial institutions monitoring client transactions for money laundering, terrorist financing, or other forms of financial crime.
- AML and Financial Crime
Firms’ Non-Financial Misconduct Under FCA Spotlight Thanks to SM&CR
Sexual harassment and other forms of “non-financial misconduct” are now on equal footing with types of financial misconduct with the FCA. Firms and employees are at risk of regulatory sanctions for failure to fulfill the FCA’s evolving diversity and inclusion expectations.
- Compliance
Joint Statement About Broker-Dealer Custody of Digital Asset Securities
A company that effects transactions in digital asset securities for its own account or the accounts of others must register as a broker-dealer under Section 15 of the Securities Exchange Act of 1934. In addition, these companies must meet the requirements of Rule 15c3-3 (the “Customer Protection Rule”) if they intend to custody digital asset securities.
- Compliance
ACA Compliance Group sells majority stake in Cordium Malta Limited
ACA has sold its majority stake in Cordium Malta Limited (“CML”) to Adam de Domenico. ACA acquired the entity in August 2018 as part of the acquisition of Cordium.
- ACA News
Preventing Stormy Security Weather in Your Microsoft Office 365 Cloud Environment
Companies are relying increasingly on cloud service providers for conducting business, including storing data, hosting email, and more. But with the increasing regulatory focus on the risk of cloud data storage, is the forecast for cloud solutions stormy?
- Cybersecurity
Capital One Breach Affects 100 Million Customers
On July 29, Capital One Financial Corporation announced that it had suffered a breach on July 19. On that date, an outside individual illegally accessed the personally identifiable information of over 100 million of its customers.
- Cybersecurity
New York State's SHIELD Act Signed into Law
The SHIELD Act significantly expands New York State's breach notification law.
- Cybersecurity
OCIE Issues Risk Alert Highlighting Deficiencies in Compliance, Supervision, and Disclosure of Conflicts of Interest
The SEC's OCIE issued a Risk Alert detailing compliance issues noted during examinations of advisers who hire or employ individuals with a history of disciplinary events.
- Compliance
Investment Adviser Standard of Conduct and Form CRS – What You Need Know (Part 2 of 2)
On June 5, 2019, the U.S. Securities and Exchange Commission issued the Standard of Conduct for Investment Advisers interpretation to reaffirm and clarify the SEC’s views of the fiduciary duty that investment advisers owe to their clients under the Investment Advisers Act of 1940.
- Compliance
Mirabella Group Launches New Tied-Agent Service in Malta
Mirabella Group, the regulatory hosting arm of ACA Compliance Group, announced that it has enhanced its hosting services in Malta by adding a Tied Agent solution to its existing alternative investment fund manager (AIFM) service. This new solution helps non-European Economic Area (EEA) firms to interact with their EEA clients using MiFID passporting.
- Mirabella