Compliance and Transparency

Financial Crime Compliance Principles for Securities Custody and Settlement

Working Group Co-Chairs:: Mark Gem, Clearstream
Olivier Goffard, Euroclear
Yannick Cherel, Standard Chartered Bank

Scope:: In August 2018, ISSA released 17 Principles which are recommended to be implemented by the global community of securities custodians and intermediaries in order to address the critical challenges posed by financial crime. It is anticipated that a cross-market adoption of the Principles can be achieved by the end of 2019.; To support a successful implementation, the Working Group has updated various documents, which were released in May 2019. The communication to the industry will be intensified by means of regular updates.

Milestones:

June: 2019: Special Newsflash with a detailed description of content of communication activities throughout the year
Periodic Working Group Newsflashes to report on various work items to be initiated
2020: Full revision of the 17 Principles to be initiated

Reports:

Principles and Related Documents

ISSA Financial Crime Compliance Principles for Securities Custody and Settlement, second revision (05/2019)
> PDF 326 kB
ISSA Financial Crime Compliance Questionnaire (ISSA DDQ), simplified version (05/2019)
> DOC 300 kB
Examples of Draft Contractual Terms to Support the Implementation of the Principles (05/2019)
> PDF 211 kB
Background & Overview on the Financial Crime Compliance Principles (05/2019)
> PDF 574 kB
Discussion paper on Transparency in Securities Transaction and Custody Chains, issued on 22 April 2014, as pre-reading documentation for the ISSA Symposium 17.
> PDF 360 kB

Additional documents

ISSA Comments to BIS's consultative document of October 21, 2015
> PDF 414 kB
ISSA commissioned Study on the Benefits and Costs of Securities Accounting Systems, August 20, 2015
> PDF 950 kB

Institutions Represented by Experts in the Working Group: