Acquisition enhances AI technology to boost managed services capabilities.
ACA Group (ACA), a provider of governance, risk, and compliance (GRC) solutions to clients in the financial services industry, has announced the acquisition of Encore Compliance (Encore), a leader in AI compliance software solutions. This acquisition enhances ACA's Managed Services suite of people, processes, and technology, adding AI-enabled surveillance for expert network chaperoning and research calls to help asset managers and investment advisors comply with SEC, FCA, and ESMA regulations. Additionally, this technology can enable research teams to create their own expert library and identify potential risks in other voice communications subject to heightened regulatory oversight, aimed to strengthen overall compliance controls.
In the U.S., the SEC has intensified its scrutiny on firms' use of expert networks and alternative data under Section 204A of the Investment Advisers Act. This heightened focus has also been felt in Europe under the Market Abuse Regulation (MAR). Encore helps compliance teams monitor and protect against material non-public information (MNPI) related risks.
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