Insights
FCA Raises Further Concerns on Access to Inside Information
Following the conviction of a former compliance officer of a major investment bank, the FCA raises concerns on the control of access to inside information. We examine the regulator's findings and recommendations, and what this means for financial services firms.
- Compliance
Less than 2% of firms are fully prepared for SM&CR
A survey conducted on preparation for the FCA’s Senior Managers and Certification Regime, (SM&CR) has revealed that most firms have significant work to do, as they prepare for its extension to all authorised firms on 9 December 2019.
- Compliance
Deadline Approaching for Treasury International Capital (TIC) Form SHL (TIC SHL)
The U.S. Treasury and the Federal Reserve Bank of New York will collect data regarding non-U.S. residents’ holdings of securities of U.S. issuers via Form TIC SHL. This mandatory collection is conducted every five years. The filing deadline is August 30, 2019, and data must be reported as of June 30, 2019.
- Compliance
The 2020 GIPS Standards: Opening Doors for Alternative Managers
The 2020 edition of the GIPS Standards was released on June 28, 2019. One of the major initiatives of the overhaul was to make compliance with the GIPS standards easier for alternative managers.
- Performance
6 Hot Topics in Employee Compliance
Is your code of ethics monitoring and personal trade surveillance compliance program built to beat the heat? This blog post recaps our recent webcast on this topic and provides best practices for navigating complex and evolving areas of compliance management, including cryptocurrency, pay-to-play, robo-advisors, and more.
- RegTech
CCPA Amendments to Be Finalized in October 2019
The California Consumer Privacy Act (CCPA) is scheduled to go into effect on January 1, 2020.
- Cybersecurity
- Privacy
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