Governance, risk, and compliance (GRC) solutions provider, ACA Group (ACA), has acquired Effecta Compliance Group (Effecta), a regulatory consultancy practice that supports financial service firms throughout the United Kingdom and the United Arab Emirates.

The move expands ACA’s Middle East presence, which has a growing GRC market – in 2023, the Dubai Financial Services Authority (DFSA) saw a record-breaking 157 AF applications, marking a 45% increase compared to the prior year and the highest number of submissions in this five-year period. As of June 2024, the number of licences issued by Abu Dhabi Global Market increased by 20% compared to the prior year.

The acquisition will also broaden ACA’s service offering to UK firms as they navigate increasingly complex compliance requirements.

Clare Curtis, founder of the Effecta Compliance Group, will oversee ACA’s capabilities in the UAE under the brand ACA Effecta. Curtis 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,” Curtis says.

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 US.

The financial terms of the acquisition have not been disclosed.