Portland-based Foreside announced today the acquisition of Capital Markets Compliance (CMC), a compliance and consultancy firm serving brokerages, investment banks and registered investment advisors.
Foreside will integrate CMC’s technology into its platforms, according to a company press release, and CMC’s managing team of Karen Lopez Alvarez and Rick Alvarez, as well as 13 of its employees, will join the combined firm.
“We are proud to demonstrate our continued growth with the acquisition of CMC,” said David Whitaker, president of Foreside in released comments. “Their highly regarded and successful practice complements our FINOP, broker-dealer and investment advisor consulting businesses, expands our accounting and financial support capabilities, and augments our existing tech solutions to provide a consistent quality of client service and industry expertise that we continue to enhance through these types of acquisitions.”
Financial terms of the transaction were not disclosed.
CMC becomes Foreside’s fifth acquisition since 2019 – previous acquisitions include ICSGroup, a compliance services firm for asset managers; Quasar Distributors, U.S. Bancorps mutual funds and ETFs distribution business; Compliance Advisory Services, a regional compliance firm; and NCS Regulatory Compliance, a provider of outsourced compliance and regulatory solutions.