Share these talks and lectures with your colleagues
Invite colleaguesPractice paper
Financial crime compliance in securities custody and settlement: ISSA’s principles and their implementation
Journal of Securities Operations & Custody,
9
(3),
236-244
(2017)
Abstract
Until recently, the regulatory burden laid on the securities services industry was relatively light. Post financial crisis, a myriad of regulatory initiatives were taken impacting the securities services intermediaries. In August 2015, ISSA issued 17 Financial Crime Compliance Principles providing global guidance on the establishment and maintenance of cross-border securities custody relationships. ISSA is about to publish additional documents supporting the implementation of the principles with a view to cross-market adoption by the end of 2019.
Keywords: financial crime compliance, transparency, custody intermediation, segregated accounts, omnibus accounts, due diligence framework, implementation challenges
The full article is available to subscribers to the journal.
Author's Biography
Urs Staehli is the Secretary of the International Securities Services Association, a global trade association for institutions active in the securities services business. Until his retirement in 2012, Urs Staehli had worked as Managing Director of UBS AG in Switzerland for more than 40 years, primarily in various functions in the securities services field.
