Custody Rules

In the previous article, Custody 101 C, we commenced the review of the various things that can happen during the regular course of holding your clients’ securities under custody. That entire article dealt with financial activities; income and capital payments related to the securities. This article will review various regular events that can take place […]

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Introduction When I started in securities custody there were no specific laws or rules about it, few regulators knew what it was, accounts were opened for new clients on the strength of a telex request and contracts to look at as precedents, if there were any at all, were two, perhaps as many as six […]

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Introduction On 14 April 2015, the FCA published its final notice fining The Bank of New York Mellon London Branch and the Bank of New York Mellon International Limited (together, “BoNY”) a total of £180 million (reduced to £126 million on account of early settlement) for failure to arrange adequate protection of safe custody assets […]

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