The SOC 1 Type 2 audit is conducted under the SSAE 18 auditing standard. A recognized compliance and controls standard from the American Institute of Certified Public Accountants (AICPA) Auditing Standards Board, SSAE 18 is used by leading banks and service providers across the financial industry.
Performed by one of the country’s leading public accounting firms, the audit reviewed the design of controls and the operating effectiveness of identified key control areas, including technology, information, financial processes, security and other protected data. Passed without exceptions, JTC’s audit focused on a range of service offerings, including escrow and fund administration for Private Equity, Opportunity Zones, and the EB-5 Immigrant Investor Program, as well as Section 1031 like-kind exchanges. Dating back to when audits were commissioned by NES Financial (acquired by JTC in 2020), this marks 19 straight years of successful SOC 1 Type 2 audits for the company’s San Jose and Boston offices.
“We subject ourselves to the highest level of scrutiny because we want to demonstrate our commitment to best practices,” said Jill Jones, JTC Head of Specialty Administration and General Counsel, USA. “We’re ready to help our clients address the regulatory challenges and security concerns of today’s financial markets, protect investor data, and build security into every step of our administrative practices.”
Along with SOC 1 Type 2, JTC also complies with OCC and BSA third-party vendor requirements for financial institutions. As a result, the company’s operations meet the financial needs of leading public companies that must comply with Section 404 of the Sarbanes-Oxley Act, the Bank Secrecy Act, the Gramm-Leach-Bliley Act, and other industry regulations.
To learn more, visit JTCGroup.com
About JTC
JTC is a publicly listed, global professional services business with deep expertise in fund, corporate and private client services. Every JTC person is an owner of the business, and this fundamental part of our culture aligns us with the best interests of all our stakeholders. Our purpose is to maximize potential, and our success is built on service excellence, long-term relationships and technology capabilities that drive efficiency and add value.
In the US and abroad, JTC provides a full suite of bespoke Fund Administration solutions across multiple asset classes (private equity, real estate, venture capital, debt, impact, Opportunity Zones, insurance dedicated funds). As the industry leader in Specialty Financial Administration, JTC offers purpose-built solutions for markets characterized by high administrative and regulatory complexity, elevated transaction security needs, and challenging compliance requirements, including EB-5, 1031 Exchange, and Delaware Statutory Trusts. Along with our Private Client, Trustee, and Corporate Services divisions, JTC’s US Institutional Client Services team combines sector-specific expertise with industry-leading technology to be a true partner in growth for our clients.
To learn more, visit JTCGroup.com
Media Contact
Coleen Danaher, JTC Group, (408) 367-0846, [email protected], www.jtcgroup.com
SOURCE JTC Group
