In this issue

• Introduction
• ACSA Sydney Members Events
• Benefits of joining ACSA
• Upcoming ACSA Thought Leadership Series Webinar
• Regulation gets active
• ISSA – Digital Asset Survey
• In Focus– Nichole Alexander
  

Introduction

Time to celebrate: Our first in person members event for 2 years has been confirmed for 16th August 2022 in Sydney, mark your calendar by following the event link here.

This month’s Industry Wrap covers plenty including:

• ACSA Sydney Member Event – What you will hear
• Share the benefits of connecting to ACSA.
• What’s next in ACSA Thought Leadership Series
• Regulators get active
• Global Insight –ISSA DLT survey
• In Focus with Nichole Alexander

Click the logos below to follow us on LinkedIn or sign up to the ASCA Website.

ACSA Sydney Members Event

“We’re getting the band back together” [The Blues Brother]

The ACSA Executive Board is excited that members can start networking again and is pleased that we’re getting together in Sydney on August 16 for our first members’ event. We have already started planning for an event in Melbourne on October 20.

The Sydney members event, which is being hosted by HSBC, will be an opportunity for us to update you on what has been happening at ACSA, hear from a guest speaker and for the 2021 ACSA Award winners to be presented to members and receive their awards (finally!).

We are thrilled to have Fiona Reynolds, CEO Conexus Financial joining us. Fiona has a distinguished career in financial services and superannuation including leading Conexus Financial, the Australian Institute of Superannuation Trustees and the global Principles for Responsible Investing. Fiona will share her insights and experience on her career, changing landscape for financial services and superannuation, and social responsibility.

Hopefully you can join us in Sydney for this event. You can sign up to the members event here. We also look forward to seeing you in Melbourne in October.

Share the benefits of connecting with ACSA

Share the ACSA Industry Wrap with your friends, colleagues, and teams so they can keep up to date with what’s happening in the industry.

ACSA Thought Leadership Series – What’s next?

Continuing ACSA’s focus on bringing relevant and interesting topics and speakers to our members, the next webinar in the ACSA Thought Leadership Series will be on Digital Assets – What does it mean?

Watch out for details of the webinar where we welcome Laszlo Peter, Partner and CEO of KPMG Origins. Laszlo is an industry leader in enabling the transition to Industry 4.0. Laszlo will provide background and define digital assets, plus share thoughts on global trends, innovation, and emerging technologies which custodians, securities markets and beyond need to react and address for inevitable market changes, both current and future.

Regulation gets active

Change of government + shift in focus = more regulatory consultation.

The ACSA Regulatory Working Group is experiencing an uplift in consultations as the new federal government starts to roll into its regulatory framework. Here is some of the consultations and updated regulations that have recently been announced and have an impact on custodians or our clients.


APRA has proposed a new standard for operational risk management, which will replace and supersede a number of existing standards in this area, encompasses operational risk controls and monitoring, business continuity planning and the management of third-party service providers. Find out more here.

APRA also released its final revisions to Prudential Standard SPS 530 Investment Governance (SPS 530). This is accompanied by a response to submissions paper, which notes the key revisions following industry consultations, in September 2021. The final revisions are aimed at ensuring better member outcomes through updated requirements that enhance stress testing, valuation, and liquidity management practices. Find out more here.

AUSTRAC has released proposed amendments to Chapter 16 of the AML/CTF Rules for public consultation. The draft AML/CTF Rules and Explanatory Note are available to download in the consultation documents. Find out more here.

The Treasury is consulting on draft regulations outlining proposed changes to the disclosure requirements for superannuation Annual Members' Meeting notices. Find out more here.

The Treasury is also consulting for the Payment Times Reporting Regulator who administers the Payment Times Reporting Act 2020 (the Act). The Act requires large businesses operating in Australia to report on their payment practices with Australian small business suppliers. Find out more here.

Global Insight – ISSA DLT Survey

ISSA recently shared the results of the ISSA’s 2022 “DLT in the Real World” industry wide survey. This was supported by Accenture, Broadridge and VMware, and as last year, managed by the ValueExchange. The survey was very successful with insights of over 148 financial services organisations across the globe.

The survey has reached across the entire industry to provide uniquely comprehensive industry benchmarks around how we are planning, progressing, and realising our DLT ambitions in the real world. This campaign is designed to provide you with unique, actionable insights on how DLT is being used across the world, giving you the chance to learn from your customers and your peers where DLT is solving real world problems, where it is not and how people are making the most of this technology. This is the third iteration of the survey and so this allows us insights into changes over time and it starts to show in the evolution of our industry and of DLT.

Read more about the key findings in the ISSA survey here.

In Focus - Nichole Alexander

Nichole is an Executive Director at JP Morgan responsible for managing operational teams across the Funds Services business, here in Australia. She has over 20 years’ experience across the global financial markets, starting out her career locally in Sydney before moving to Hong Kong in 2008. Returning to Sydney in 2011, Nichole has worked for Goldman Sachs, ASX and HSBC prior to her current role which brings together her global market knowledge, operational excellence and client experience whilst continuing to be part of local industry bodies including ACSA. Nichole is also a mum to 3 young girls and an advocate for retaining and advancing women in their chosen careers

How long have you been involved with ACSA and can you tell us about the work you currently do as the Chair of the Member & Services working group?

I have been involved in ACSA since 2019, always within the Members and Services Working Group. In order to achieve the mission of ACSA, “promote efficiency and international best practice for members, our clients and the market through a united voice for the custody and investment administration industry in Australia” the M&S working group’s aim is to position ACSA as a leading voice in the industry. We engage with current members via the monthly newsletter, webinars and events which successfully informs our members and the broader industry on ACSA's key priorities, emerging trends and themes. We strive to promote the important role played by custodians within the Australian  Financial Services sector to all key stakeholders

Tell us about your career in asset servicing? What are some of the key trends in the industry at the moment?

I have worked in the Financial Markets for 20 years, starting out in a small back office environment “ticking back” FX confirmations, “give up” futures trades and entering fixed income trade tickets into a black and green screen. I have been fortunate to work for global organisations including 3 years in Hong Kong and with this, the opportunity to travel the world. From a very paper based, “wet ink” operations industry where often fax was the key communication tool, to the use of chat bots, digital tools, blockchain technology and active hybrid working environments today, the industry continues to evolve in line with the new and often complex investment and trading strategies, regulatory change and technology advancement.


Why should organisations/industry professionals get involved with ACSA?

Being involved with ACSA is the ultimate way to stay informed of local market changes. ACSA actively advocates for best market practices and with this comes the opportunity for members voices to be heard. Being part of ACSA is a positive way to network and be part of active working groups aiming to further evolve the local custody and investment administration industry in Australia.