Print Page   |   Contact Us   |   Sign In   |   Register
Regulatory Affairs

The custody industry has undergone significant change over the last 15 years. Services offered by custodians have become increasingly sophisticated, the role of technology has been enhanced and as the importance of the role of custodians has become more recognised, their services have become increasingly regulated.

The Regulatory Affairs Working Group aims to assist ACSA members in addressing the challenges that exist in this area by developing tools and knowledge sharing opportunities for evaluating regulatory reforms, along with sharing information on the progress of reforms and their application to ACSA members. The Working Group systematically tracks information on reforms through regular meetings and the maintenance of an issues log. The Group also aims to engage pro-actively with regulators and other industry groups to drive the shape of reforms.

 

A number of Sub Working Groups report into the Regulatory Affairs Working Group, that are specifically designed to manage programmes of work through consultation, advocacy, impact assessment and development of industry white papers.

 

These include:

 

ACSA Stronger Super Taskforce

  • Evaluate regulatory and reporting reforms and come to a group consensus upon how these will best implemented to ensure consistency throughout the industry.
  • Achieve clarity in reporting requirements, standardization of data flows, simplified reporting whilst delivering information to regulators to enable them to fulfill their prudential oversight functions

ACSA Regulatory Member Obligations

  • Evaluate regulatory reforms impacting Member obligations and come to a group consensus upon how these will best implemented to ensure consistency throughout the industry.
  • Achieve clarity in the intent and application of the legislation and remove areas where assumption or interpretation exists.
  • Develop and implement industry solutions to the legislation and highlight to regulators any factors influencing compliance (financial, legal, operational, market practice etc).

ACSA Derivatives Reform

  • Evaluate regulatory reforms impacting derivatives in the Australian market, including but not limited to; central clearing, margin requirements, electronic trading, reporting.
  • Achieve clarity in the intent and application of the legislation and remove areas where assumption or interpretation exists.
  • Develop and implement industry solutions to the legislation and highlight to regulators any factors influencing compliance (financial, legal, operational, market practice etc).

Finally the Working Group seeks to heighten the understanding of regulators, financial services industry participants and the media of the important role which is performed by custodians.

 

Executive Sponsors

 

Marian Azer - J.P. Morgan

 

Daniel Cheever - State Street Global Services

 

Co-Chairs

Stephen Coutts - J.P. Morgan

 

Darryll Rogers - NAB Asset Servicing

 

Member Organisations participating in working group include:

  • J.P. Morgan
  • State Street
  • NAB Asset Servicing
  • BNP Paribas Securities Services
  • The Northern Trust Company
  • Citi Markets and Securities Services
  • RBC Investor & Treasury Services
Association Management Software Powered by YourMembership  ::  Legal