Two large U.S. regulatory compliance businesses will merge to create a full-service consulting firm.
National Compliance Services (NCS) and Regulatory Compliance announced that they have signed a definitive agreement to merge on Tuesday.
The merger will combine NCS’s RIA and broker dealer compliance consulting, registration services, federal filing services and technology with Regulatory Compliance’s consulting, registration services, FinTrax software, financial operations support and outsources chief compliance officer services.
"As companies struggle to manage the escalating costs and complexity of compliance, this game-changing merger exemplifies the sum of a whole being greater than its parts," said Regulatory Compliance CEO Stephen Sussman in a statement. "This positions us to offer the broadest set of compliance solutions and the deepest bench strength of expertise of any single provider."
Sussman will be joined as co-CEO of the new, yet-to-be-named company by NCS founder and CEO Rita Dew.
"While our respective industry focuses are complementary, our organizational cultures are similar, with a shared goal of providing personalized, comprehensive and hands-on customer service," said Dew. "Together, we are exceptionally well positioned to provide high-caliber compliance solutions to RIAs and broker-dealers of all sizes.”
Over the coming months, NCS will continue to operate out of its Delray Beach, Fla., office, while Regulatory Compliance will maintain offices in New York, Boston and southern New Hampshire.
Additional details of the merger were not released on Tuesday.