ACA targets new AML regs with latest acquisition

The compliance product firm is pre-empting market needs by buying Telavance.

ACA Compliance is targeting upcoming regulation changes with its acquisition of Telavance, an anti-money laundering and compliance business.

“Many private equity firms have a limited anti-money laundering regime currently. As the US regulators insist that more stringent regimes are put in place, the acquisition of Telavance gives us an opportunity to offer updated Office of Financial Assets Control and know your customer’ solutions,” Nick Prokos, Partner at ACA Compliance, told pfm.

The Office of Financial Assets Control is the US Treasury division which oversees anti-money laundering regulations.

The Financial Crimes Enforcement Network  rules, which will likely be finalized in 2017, require all registered investment advisors to establish anti-money laundering programs similar to those required of other financial institutions, such as banks.

“We’re actively working with Telavance on client risk assessment products for release in early 2018, alongside the new anti-money laundering regulations,” Prokos added.

ACA is also eyeing the global compliance products market. “Telavance’s expertise and understanding of banking institutions, as well as their global reach in the compliant products market, was very attractive to us,” he said.