Huron Consulting Group and Acuity Join Forces to Enhance Services to Financial Institutions
CHICAGO – August 12, 2008 – Huron Consulting Group (NASDAQ: HURN), a leading provider of financial and operational consulting services, today announced a joint venture with Acuity, a firm led by Michael T. Dougherty and Lucy Clark Dougherty, to assist clients with advisory services relating to white collar and anti-money laundering investigations. The Huron-Acuity alliance will offer clients consulting services regarding controls, monitoring systems, regulatory compliance, and corporate governance for financial institutions and other enterprises subject to or affected by U.S. and foreign money laundering laws, the Bank Secrecy Act and the Patriot Act.
“Huron’s joint venture with Acuity will allow both companies to extend advisory, forensic, and consulting services to financial institutions and others impacted by anti-money laundering statutes, the Bank Secrecy Act and the Patriot Act,” said Gary E. Holdren, chairman and chief executive officer, Huron Consulting Group. “The Huron-Acuity team provides clients with the full range of expertise needed to navigate these complex waters.”
Following September 11, 2001, laws governing the Bank Secrecy Act and anti-money laundering were expanded, which put an increased number of entities at risk for civil and criminal liability. Today, regional and mid-sized banks as well as casinos, insurance companies and brokerage houses face heightened scrutiny and often rely on additional guidance to comply with state, federal, and foreign laws and regulations.
Acuity has extensive public and private sector experience and has led numerous investigative and consultative engagements on behalf of clients and their legal counsel in these areas and complements well the experience of Huron personnel who have worked with financial institutions and federal agencies in the anti-money laundering field. The joint venture expands both Huron’s and Acuity’s anti-money laundering and Bank Secrecy Act capabilities, while also enhancing each company’s ability to deliver forensic services.
Acuity is an independent anti-money laundering services and advisory firm specializing in investigations, transaction reviews, subpoenaed account analysis, compliance program design and assessment, independent reviews, internal audit support, and transaction monitoring system assessment, optimization and implementation services. Acuity offers a flexible suite of world class proactive and reactive services to compliance leaders, counsel, CEOs and boards of directors. Learn more at www.acuityus.com.
About Huron Consulting Group
Huron Consulting Group helps clients effectively address complex challenges that arise in litigation, disputes, investigations, regulatory compliance, procurement, financial distress, and other sources of significant conflict or change. The Company also helps clients deliver superior customer and capital market performance through integrated strategic, operational, and organizational change. Huron provides services to a wide variety of both financially sound and distressed organizations, including Fortune 500 companies, medium-sized businesses, leading academic institutions, healthcare organizations, and the law firms that represent these various organizations. Learn more at www.huronconsultinggroup.com.
Jennifer Frost Hennagir, Director
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