Compliance and Transparency

Financial Crime Compliance Principles for Securities Custody and Settlement

Scope:: At the end of August 2015, 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 mandate for the ISSA Working Group for 2019 is to update existing documents as needed and recommended by our community. To support the industry the communication will be intensified by means of regular updates.

Milestones:

February/March 2019: First Special Newsflash with a detailed description of content of communication activities throughout the year.
Ongoing focus on updating the Operational Guidelines (including Glossary), the Due Diligence Questionnaire and the document Examples of Draft Contractual Terms
Full revision of the 17 Principles to be initiated in 2020

Reports:

Principles and Related Documents

ISSA Financial Crime Compliance Principles for Securities Custody and Settlement, First Revision.
> PDF 273 kB
ISSA Financial Crime Compliance Sample Questionnaire (ISSA DDQ) > DOCX 136 kB
Explanatory Notes ISSA Financial Crime Compliance Sample Questionnaire> PDF 125 kB
Examples of Draft Contractual Terms to Support the Implementation of the Principles (05/2017)
> PDF 254 kB
Background & Overview on the Financial Crime Compliance Principles, October 6, 2015
> PDF 707 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: