- within Law Department Performance, Insolvency/Bankruptcy/Re-Structuring and Consumer Protection topic(s)
- with readers working within the Retail & Leisure industries
On November 10, 2015, IOSCO published its final report on standards for the custody of Collective Investment Schemes' assets. The report seeks to develop guidance for the custody of CIS assets consistent with the IOSCO Objectives and Principles of Securities Regulation. The report sets out standards that aim to identify core issues that require consistent review to ensure investors' assets are well protected. The key risks identified by the report are: (i) operational risk; (ii) misuse of CIS assets; (iii) risk of fraud or theft; and (iv) information technology risk. The report sets out the role and responsibilities of custodians and examines the ways in which key risks associated with the custody of CIS assets can be managed and mitigated.
The report is available at: https://www.iosco.org/library/pubdocs/pdf/IOSCOPD512.pdf.
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