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.
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.
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 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 CompaniesWe 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
The risk alert outlines observations made during SEC examinations of Rule 606(a) disclosures since the first quarter of 2020, noting issues with firms' material aspects disclosures.
We examine how 2022's economic downturn impacted compliance companies, and explore how changing market conditions can create opportunities for new efficiencies.
- Managed Services
We discuss the latest Risk Alert from the SEC’s Division of Examinations, the DOL’s change of heart on ESG for plan investments, and the SEC’s rule proposals to change the equity markets.
As fiduciaries become increasingly subject to SEC inspection, ERAs should consider adopting compliance policies and procedures relevant to their operations to mitigate regulatory risks.
The SEC released an updated FAQ on January 11, 2023 clarifying requirements around gross and net performance obligations for one investment or a group of investments (i.e., extracted performance).
- SEC Marketing Rule
Investment advisers must meet various regulatory filings requirements throughout the year. These are the regulatory filing submission deadlines occurring from January through March 2023.
- Regulatory Deadlines
We are delighted to be named one the 100 most innovative RegTech companies in the financial industry by FinTech Global and RegTech Analyst for the 5th time!
Acquisition continues to reinforce ACA’s suite of leading GRC professionals and diversified services
Financial Services Review has named ACA Group’s ESG Data and Analytics solution, Ethos ESG, a “Top Wealth Management Solutions Provider” for 2022.