UK-based regulatory consultancy, The Consulting Consortium, has acquired Swaines, to expand the scope and size of its service proposition in response to a “growing demand for compliance consultancy”, especially from smaller UK advisory firms.

Both TCC and Swaine provide regulatory consultancy and compliance-related business support services to the financial advisory industry.

Meanwhile, Allen Swaine remains in his role as CEO of Swaines.

Firms in the UK such as the Consulting Consortium, IMS and Bovill, which advise financial firms on the mass of regulations coming out of Europe, the US and Asia, have flourished in recent years since demands for tighter oversight grew after the 2008 financial crisis.