Regulatory Alerts2014-06-25
Added · Updated
Communiqué on Portfolio Depositary Service and Providers of Such Service
The Capital Markets Board issued this Communiqué to establish the principles for portfolio depositary services and the authorization requirements for providers. It mandates that financial assets of collective investment schemes be kept in separate custody accounts by authorized custodians, who are liable for verifying ownership, monitoring cash flows, and ensuring compliance with investment strategies. The document further details the licensing criteria, organizational independence, and specific duties required for banks and intermediary institutions to act as portfolio custodians.
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