Compliance Management

The U.S. Securities and Exchange Commission (SEC) introduced a significant regulatory update on August 24, 2023, impacting private fund advisers through the adoption of the Private Fund Adviser Rules. This regulatory shift comprises several key components aimed at enhancing transparency and safeguarding investor interests. Among these, the Adviser-led Secondaries Rule and the Annual Fund Audits Rule stand out for their direct impact on fund management practices, accompanied by the amendment to the compliance review documentation requirements.

On the 6th of February, 2024, the Securities and Exchange Commission’s (SEC) Division of Investment Management unveiled a new Frequently Asked Question (FAQ) aimed at clarifying the obligations surrounding gross and net Internal Rates of Returns (IRR) in the private markets arena. ACA Global, a GRC solution developer, has offered some guidance highlights the SEC's commitment to ensuring transparency and comparability in performance reporting.

The European Union is embarking on an ambitious journey to become the first climate-neutral continent by 2050, with a significant milestone set for 2040.

The Council and the European Parliament have made a significant step forward by reaching a provisional agreement on the Net-Zero Industry Act (NZIA).

The Federation of Small Businesses (FSB) has recently voiced its opinion on the Financial Conduct Authority (FCA)'s current proposals aimed at ensuring the availability of cash withdrawal and deposit facilities.

Fenergo, a leading provider of digital solutions for Know Your Customer (KYC), Transaction Monitoring, and Client Lifecycle Management (CLM), has announced the availability of its software-as-a-service (SaaS) CLM solution on AWS Marketplace.

In the competitive landscape of banking, customer onboarding emerges as a pivotal phase, with customer due diligence standing at its core. When managed poorly, the onboarding process can deter potential clients, causing banks to miss out on new revenue streams. Conversely, hasty or inaccurate due diligence could lead to the acquisition of customers who pose commercial and reputational risks, potentially incurring hefty regulatory fines.

In the realm of financial services technology, navigating through legacy systems and enhancing data quality are pivotal concerns that most organisations grapple with. TAINA, a leader in this field, acknowledges these challenges and has dedicated extensive efforts to develop a suite of tools and methodologies aimed at simplifying the data migration process.

The European Banking Authority (EBA) has initiated a public consultation regarding its draft Regulatory Technical Standards (RTS) focused on the criteria for identifying hedging instruments that mitigate residual risk.

The European Securities and Markets Authority (ESMA), the regulator and supervisor for the EU's financial markets, is currently on the lookout for new members to join its Securities Markets Stakeholder Group (SMSG).