In this Issue

• ACSA Members Event
• ACSA Next Generation of Leaders.
• ACSA Thought Leadership Series
• ASX Cash Equities Clearing and Settlement Advisory Group
• ACSA Regulatory Working Group
• Global Insights – DLT in the real world
• In Focus – Tina Rathjen (J.P. Morgan)
  

Introduction

In this month’s edition of the Industry Wrap we share details on ACSA events and ACSA Thought Leadership Series webinars. We include updates on new ASX Cash Equities Clearing and Settlements Advisory Group and announce the new chairs of the ACSA Regulatory Working Group.
You will also find a connection to a global survey on DLT.
And, this month we are also In Focus with Tina Rathjen from J.P. Morgan.

ACSA Member Events

ACSA next Members Event, to be run concurrently between Sydney and Melbourne, is on 19 October 2023. ACSA’s Executive board invites you to join them for an industry update, hear about our first Industry White Paper on Cyber, and connect and network with your peer’s and colleagues from the industry.

When: 19th October 2023, 4.30pm – 6.30pm
Agenda: Industry update and guest speaker followed by networking cocktail event.
MELBOURNE: NAB Place - 395 Bourke St Melbourne
SYDNEY: State Street Corporation, Level 14, 420 George Street, Sydney

Please register here, choosing your preferred location to attend for Sydney or Melbourne.

ACSA Next Generation Leaders events

ACSA Next Generation Leaders hosted events in Sydney and Melbourne recently. It was fantastic to see representation from different ACSA member firms and we hope that the events were well received. Thank you to all those that attended.

The Next Generation Leaders working group represents new members to the custody and investment administration industry with a focus on how ACSA supports growth in the industry through engaging, attracting, retaining, and developing the next generation of talent.

For those that attended, your feedback is valued and will be incorporated into future events and activities put on by the Next Generation Leaders working group. Please click here to provide feedback.

Also please check out some photos from the event below.

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If you’re interested in joining the ACSA Next Generation Leaders Working Group please contact admin@acsa.com.au.

ACSA Thought Leadership Series – Demystifying CPS230

Next up in the ACSA Thought Leadership Series, we are excited to bring forward looking insights into changing regulations affecting our industry. APRA has released its much-anticipated final Prudential Standard CPS 230 – Operational Risk Management, alongside draft supporting Guidance CPG 230.

ACSA will welcome Niki Short and Lisa Simmons from Ashurst on October 13 to share insights and help the custody and investment services industry understand the implications of the prudential standard and guidance.

APRA’s Prudential Standard CPS 230 – Operational Risk Management, bolsters operational risk management practices across the Financial Services sector. While the final standard contains few changes to APRA’s earlier draft, the new accompanying draft Prudential Practice Guide (CPG) provides materially more detail around expectations across Operational Risk Management, Business Continuity Planning, and the Management of Service Providers.

You can still register for this webinar here.
If you have any suggestions for further Thought Leadership topics, please send your thoughts to admin@acsa.com.au.

ASX Cash Equities Clearing and Settlement Advisory Group

ASX has announced the formation of a Cash Equities Clearing and Settlement Advisory Group.

The new Advisory Group is made up of experienced industry leaders drawn from different stakeholder sectors and fields of expertise. It will be deeply involved in providing advice and recommendations to ASX’s Clearing and Settlement Boards on key strategic issues in the provision of cash equity clearing and settlement services.
Independently chaired by Alan Cameron AO, the inaugural meeting was held on August 31 where ASX briefed advisory board members on its solution decision framework for CHESS replacement and finalise procedural matters such as membership and charter.

ASX fully supports the Advisory Group and provide the opportunity for it to consider all strategic aspects of CHESS replacement and make recommendations on key strategic issues. This is initially expected to focus on CHESS replacement solution design archetype and appointment of vendors but will in time also consider other aspects of cash equities clearing and settlement.

In other ASX news, The ASX has announced that Paul Rayson will become the first independent chair of the ASX Business Committee Chair. He brings more than two decades of experience in the financial services industry to the role, having worked across investment markets, technology, retail banking, risk management and governance and was formerly the managing director of Australia’s largest retail broker, CommSec.

Further details on the ASX Cash Equities Clearing and Settlement Advisory Group can be found here.

ACSA – Regulatory Working Group.

ACSA is excited to announce that we have Co-chairs for our ACSA Regulatory Working Group – Tina Rathjen (JP Morgan) and Clare Belsten (State Street).

Tina is Global Regulatory Practice Lead for APAC, Securities Services, J.P. Morgan

Clare is Head of Compliance APAC - Institutional Services / Global Delivery and Head of Compliance Australia

The Regulatory Compliance Working Group monitors, analyses, discusses and looks to play a part in shaping and influencing financial regulatory matters on behalf of the custodial services industry. It’s great to have industry leaders like Tina and Clare helping craft and deliver on the working group agenda.

If you would like to join the ACSA Regulatory Working Group please contact us.

Global Insight – DLT in the Real World.

ACSA is delighted to connect you to the findings of ISSA’s fourth DLT in the Real World survey, powered by The ValueExchange, and supported by Accenture, Broadridge, Fnality International and Metaco which was recently published. 

The number of live usage cases of DLT in our industry has doubled since 2020 - with 8% of the market now live on this new technology. The industry is resourcing more and bringing more DLT pilots to market - but with concerns around security and resourcing, how is the industry managing their DLT transformation today?

DLT's value depends on the problem: but highly paper-based, highly networked assets are the ideal targets. For the first time, there are more project live this year than are going into pilot as the industry moves from experimentation to commercialisation.

Find out more about this survey here.

If you would like to understand the key statistical findings of the research, you can access it here .

In Focus – Tina Rathjen

Global Regulatory Practice Lead for APAC, Securities Services, J.P. Morgan 

Tina Rathjen is the lead for Global Regulatory Practice, Asia Pacific at J.P. Morgan in Hong Kong. The Global Regulatory Practice team is dedicated to identifying and overseeing regulatory change that impacts Securities Services products and our clients. Tina carries out regulatory impact assessments and works with the business to develop regulatory service solutions.  

Tina has been working in the financial services industry in the U.K. and Hong Kong for 20 years.  She joined J.P. Morgan in 2003 and has held several client facing positions before joining the Global Regulatory Practice team in 2023.  

Tina holds a master’s degree in International Business from Mannheim University, Germany.

Quick fire five
Coffee or Tea? Coffee
Tik Tok, Instagram or Facebook? As little as possible but if I had to choose it would be my dog’s Instagram page
Pop, Rock or Rap? Pop
Cocktail or Wine? Wine (all of them - red, white and sparkling)
Summer or Winter? Winter (if there is snow 😊)


How did you first begin working in financial services/asset servicing?
Straight after university – the plan was to work in banking only for 1-2 years… the original plan was to be a journalist or work in a publishing house.

What was your first role in financial services and how did you end up in your current role?
Client Services in the U.K.– I have had several client facing roles since and still speak to clients today about regulatory change. Every role I had so far was interconnected to some degree – Client Services, Client Technology, Client Implementation, Network Client Consulting (market change) and now Regulatory Change.

How important is ACSA to your role, tell us about that experience and the value ACSA brings to the industry.
The ACSA working group brings invaluable insights from different custodians in the industry on regulatory change. It’s a productive forum to discuss regulatory impact and review different approaches and ideas from a custodian and client lens. ACSA is also a great forum to ensure that we are not missing any regulatory change as multiple members contribute to the horizon scanning.