ACA hopes to bolster its outsourced regulatory compliance services for broker-dealers.
Governance, risk, and compliance (GRC) solutions provider ACA Group hopes to bolster the FINRA and SEC compliance services it offers to broker-dealers via the acquisition of FINOP Consulting, an outsourcer for broker-dealers, officials say.
Officials declined to provide the financial terms of the acquisition.
FINOP Consulting offers financial operations services “that ensure a broker-dealer’s financial practices comply with stringent FINRA and SEC standards, including accounting, recordkeeping, and financial reporting,” officials say.
The acquisition helps ACA offer FinOps services to “its existing and future broker-dealer clients as part of ACA Signature,” a regulatory compliance solutions platform, officials say. “As a licensed Series 27 and Series 28 principal for clients, ACA ensures the accuracy of books and records, all required financial filings, and overall compliance functions,” according to the announcement.
Dan Beaton, who led FINOP Consulting, will be the director at ACA Group. “Together with ACA, we are even better equipped to meet the complex regulatory demands and requirements facing broker-dealers today and in the future,” Beaton says. The ACA Signature platform provides outsourced FinOps services and prepares financial reports as per Public Company Accounting Oversight Board (PCAOB) and Generally Accepted Accounting Principles (GAAP) standards.
Officials say ACA Group has 1,300 employees, including former regulators and practitioners from the regulatory landscape. The company offers advisory, managed services, distribution solutions, and analytics via its ComplianceAlpha technology platform.
Need a Reprint?