ACA Group Broadens Global Footprint Through Acquisition of the Effecta Compliance Group
October 16 2024 - 6:00AM
Business Wire
Acquisition strengthens ACA’s ability to support clients
expanding into the UAE and broadens offering to UK firms
ACA Group (ACA), the leading provider of governance, risk, and
compliance (GRC) solutions to clients in the financial services
industry, today announced it has acquired the Effecta Compliance
Group (Effecta), a regulatory consultancy practice that supports
financial services firms throughout the United Kingdom (UK) and the
United Arab Emirates (UAE).
The acquisition is a strategic move to initiate ACA’s presence
in the Middle East and equips ACA to meet the growing GRC needs of
its international clients expanding, or already present in the UAE.
The acquisition also broadens ACA’s service offering to UK firms as
they navigate increasingly complex compliance requirements.
Recent data shows a significant increase in the number of
international firms expanding into the UAE. In 2023, the Dubai
Financial Services Authority (DFSA) saw a record-breaking 157
applications, marking a 45% increase compared to the prior year and
the highest number of submissions in this 5-year period. As of the
end of June 2024, the number of licenses issued by Abu Dhabi Global
Market (ADGM) indicated a 20% increase compared to the prior year.
This trend reflects the growing importance of the region as a
global financial hub, driven by the legal, tax, and regulatory
environment through its financial free zones, specifically the
Dubai International Financial Centre (DIFC) and ADGM.
The acquisition of Effecta uniquely positions ACA with the
industry’s most experienced regulatory compliance experts based in
the UK and UAE. This team offers expertise, process, and technology
to support clients who wish to expand into the UAE while also
augmenting ACA’s existing UK footprint.
The transaction will introduce current Effecta clients to ACA’s
expansive advisory support, managed services, and industry-leading
technology. ACA now has 10 offices globally, including offices in
the DIFC in Dubai and ADGM in Abu Dhabi and its headquarters in New
York City, as well as London, Malta, and Pune, and across the
U.S.
“The acquisition of Effecta significantly enhances our ability
to support clients as they look to launch, grow, and protect their
presence in the rapidly developing financial centers of the UAE,”
said Patrick Olson, Chief Executive Officer of ACA. “This strategic
move not only strengthens our global footprint and leadership
position but also ensures that our clients have access to the
comprehensive GRC services they need to succeed in their
international ventures.”
Clare Curtis, founder of the Effecta Compliance Group, will
oversee ACA’s capabilities in the UAE under the brand ACA Effecta.
Clare has more than 20 years of experience in regulatory compliance
for financial services firms in the UK and Middle East, working
with investment banks, asset managers, corporate finance,
broker-dealers, and exchanges.
“We are excited to join forces with ACA, a globally known brand,
and this partnership brings the financial and operational support
needed to further build our expertise and continue providing
scalable compliance solutions,” said Clare Curtis, Head of ACA
Effecta and Middle East Regulatory Advisory.
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 the Effecta Compliance Group
The Effecta Compliance Group (Effecta) provides regulatory
consultancy to the financial services industry. The firm
specializes in providing authorization, advisory and regulatory
project management to various types of financial services firms
including asset managers, brokers, exchanges, fintech and others.
Effecta’s expertise covers Authorizations, Anti-Money Laundering,
Compliance Advisory and Outsourcing, and Prudential
requirements.
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Media: ACA Group BackBay Communications
aca@backbaycommunications.com