Financial consulting firm Foreside Financial Group announced plans to acquire NCS Regulatory Compliance, which provides outsourced compliance and regulatory services to registered investment advisors and broker/dealers. Terms of the deal, expected to close this month, were not disclosed.
The purchase will add more proprietary technology, regulatory and Securities and Exchange Commission compliance services and senior leadership to Foreside. It will also expand the firm’s footprint in New York City.
The merger will allow NCS to expand into new customer segments, investment products and geographies. NCS was formed in 2015 when Regulatory Compliance and National Compliance Services merged. It now supports over 1,800 b/ds and advisors.
In Feb. 2017, private equity firm Lovell Minnick Partners bought a majority stake in Foreside, which provides fund, b/d and advisor compliance services. It also provides consulting, legal underwriting, FINRA licensing to U.S. and non-U.S. sponsors of closed-end funds, mutual funds, exchange traded funds and private placements, as well as retail and institution b/ds and asset managers.
