News & Analysis


December 12, 2017 | Press Release

ACA Aponix and ACA Technology Solutions, divisions of ACA Compliance Group ("ACA"), announced today the official release of ACA’s Vendor Management Platform, a centralized solution designed to streamline the vendor due diligence process and reduce the burden, risks, and costs associated with managing the vendor life cycle.

December 11, 2017 | Cyber Alert
Threat Summary

A security researcher discovered keylogging code in software pre-installed on certain HP devices, including EliteBook, ProBook, Pavilion, and others. The keylogger was originally installed as a debugging tool to check for errors in the Synaptics Touchpad software. The keylogger is disabled by default, however anyone with physical access to the device could activate the keylogger. HP has issued a software patch to remove the keylogger.

November 30, 2017 | Compliance Alert

On November 29, 2017, HFM Week reported that at the MFA Outlook event held in New York City, U.S. Securities and Exchange Commission ("SEC") Chairman Jay Clayton confirmed that the agency will continue to focus on hedge fund managers and their compliance policies and procedures. Chairman Clayton’s statement appears to be in line with other agency communications and reports we have seen this year.

November 21, 2017 | Compliance Alert

Julia Hoggett, the Financial Conduct Authority's ("FCA") Director of Market Oversight, delivered a speech on 14 November 2017 at the Recent Developments in the Market Abuse Regime conference in London, in which she made remarks regarding the FCA's expectation that firms be in compliance with all requirements under the Market Abuse Regime ("MAR"), including the surveillance technology requirement.

November 21, 2017 | Compliance Alert

The U.S. Securities and Exchange Commission ("SEC") last week confirmed that examinations of investment advisers continued to increase in fiscal year 2017. In its Agency Financial Report, the SEC revealed that its National Exam Program had examined 15% of registered investment advisers in FY2017, the highest percentage in over 10 years. Much of this increase is due to a shift in the SEC's internal resources to its investment adviser examination program.

November 16, 2017 | Cyber Alert
North Korean Trojan Malware (Volgmer)

The Department of Homeland Security (DHS) and the Federal Bureau of Investigation (FBI) released a joint technical alert on Monday, November 14 regarding malicious cyber activity by the North Korean government referred to as HIDDEN COBRA. The alert identified IP addresses and other indicators of compromise connected to a backdoor Trojan malware variant commonly known as Volgmer. The DHS and FBI suspect that spear phishing is the primary delivery mechanism for Volgmer infections.

November 8, 2017 | Compliance Alert

On November 7, the SEC’s National Examination Program issued a Risk Alert providing the SEC staff’s observations after conducting over 110 examinations of municipal advisors during the Municipal Advisor Examination Initiative. Some of the key observations highlighted by the Risk Alert include:

November 8, 2017 | White Paper

ACA is pleased to present, An Adviser’s Introduction to ETF Management a white paper examining the points of consideration for investment advisers exploring the creation and management of an exchange-traded fund (“ETF”).

October 31, 2017 | Compliance Alert

A joint approach to paying for research? SEC and European Commission release simultaneous statements on the MiFID II research rules.

October 27, 2017 | Press Release

ACA Compliance Group ("ACA") is pleased to announced that it has been named Best Advisory Firm - Regulatory and Compliance at the 2017 HFM US Hedge Fund Services Awards. The award was announced on October 19 at a ceremony in New York.

The HFM US Hedge Fund Services Awards honor providers of services and solutions to the hedge fund sector that have demonstrated exceptional innovation, customer services, and performance over the past year.

October 25, 2017 | Cyber Alert
Threat Summary

A new strain of ransomware, nicknamed "Bad Rabbit," has been detected in several countries, including Russia, Ukraine, Turkey, Germany, and others.

October 20, 2017 | Compliance Alert

Global investment managers, particularly those with subsidiaries based in the European Union (“EU”), have been challenged by the recent increase in regulatory reporting mandates from European regulators, particularly the Markets in Financial Instruments Directive (“MiFID II”). Given the scope of these requirements, ACA recognizes the need for U.S. investment managers to adopt technology solutions that can help ease the burden of complying with current regulations while also getting ahead of future regulatory changes. 

October 17, 2017 | Cyber Alert

This advisory contains information about the SEC-themed phishing campaign targeting EDGAR filers and a critical Wi-Fi encryption vulnerability.

October 16, 2017 | Cyber Alert

This month, ACA Aponix is participating in the Department of Homeland Security's Stop.Think.Connect Campaign for National Cyber Security Awareness Month (NSCAM). Each week in October, we will provide best practices and guidance on the ways you can protect your business from cyber threats.

This week's topic is 5 Ways Your Employees Can Be Your Company’s #1 Cyber Defenders.

October 12, 2017 | Article

While the fourth quarter is often the busiest one for regulatory filings and fulfilling other compliance obligations, hedge fund managers should ensure that their compliance programs finish the year on a strong note and that key compliance processes are not neglected.