ACA Group Acquires Encore Compliance Adding AI Technology to Enhance Managed Services Capabilities
2024年7月29日 - 7:00PM
ビジネスワイヤ(英語)
Acquisition enhances ACA’s technology solutions
to support day-to-day compliance requirements and reduce risk
ACA Group (ACA), the leading provider of governance, risk, and
compliance (GRC) solutions to clients in the financial services
industry, 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 libraries 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). Overall, Encore
helps compliance teams monitor and protect against material
non-public information (MNPI) related risks of multiple compliance
regimes.
This technology creates a highly efficient, insight-driven
operation for compliance and investment teams, who can now leverage
the technology directly or through ACA’s Managed Services Team.
Users benefit from accurate and timely insights, comprehensive
compliance-reviewed call summaries and transcripts, and automatic
transcription and review of expert calls. AI technology
meticulously identifies potential areas of concern, strengthening
proactive risk management and enabling research teams to drive
alpha generation through improved data quality.
“The acquisition of Encore Compliance represents a significant
milestone for ACA Group,” said Patrick Olson, Chief Executive
Officer, ACA Group. “This strategic move not only expands our suite
of Managed Services but also underscores our dedication to
integrating AI-driven solutions that enhance compliance and
operational efficiency for our clients. With Encore’s advanced
technology, available both through our Managed Services team and as
a standalone solution, we are empowering our clients to navigate
regulatory challenges and ensure robust compliance in a complex
environment.”
“We are excited to join forces with ACA Group, bringing our
sophisticated technology to a broader audience," said Scott
DePetris, Co-Founder, Chairman, and Chief Executive Officer of
Encore Compliance. "Our AI-enabled services will seamlessly
complement ACA’s existing offerings, providing comprehensive and
efficient compliance solutions. Together, we are poised to redefine
the industry standard for expert call management and compliance
risk mitigation.”
ACA has been providing expert network call chaperoning for over
six years. With this acquisition, ACA’s Managed Services will gain
an additional level of AI-enabled review, enhancing the call
chaperoning process and providing clients with a more comprehensive
solution. ACA’s Managed Services suite offers specialized solutions
to support day-to-day compliance requirements, which can be paired
with ACA ComplianceAlpha®, a comprehensive regulatory technology
platform for financial services firms. This technology integrates
risk and compliance management activities, trade and electronic
communications surveillance and monitoring, compliance program
testing, and in-depth analytics, streamlining compliance management
responsibilities for risk and compliance teams.
Financial terms were not disclosed.
About ACA Group
ACA Group (ACA) is the leading governance, risk, and compliance
(GRC) advisor in financial services. For over 20 years, we’ve
empowered our clients to launch, grow, and protect their business.
Our global team of 1,250 employees includes former regulators and
practitioners with a deep understanding of the regulatory
landscape. Our innovative approach integrates advisory, managed
services, distribution solutions, and analytics with our
ComplianceAlpha® technology platform. For more information, visit
https://www.acaglobal.com.
About Encore Compliance
Founded by leading experts in compliance and research, Encore
Compliance is at the forefront of redefining expert call
surveillance. By enabling compliance officers to effectively manage
risk with its pioneering Generative AI technology, Encore
Compliance ensures protection against MNPI risks and empowers
research teams to build a proprietary research call library. With a
focus on innovation and excellence, Encore Compliance is dedicated
to transforming the industry's approach to expert call
management.
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version on businesswire.com: https://www.businesswire.com/news/home/20240729785182/en/
Media: ACA Group BackBay Communications
aca@backbaycommunications.com