ACA Group Broadens Global Footprint Through Acquisition of the Effecta Compliance Group

Barchart · 10/16 05:00

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.