Out of Network Assets Working Group
This is a new Working Group that will commence meeting in Q4 2024. If you are interested in joining, please contact Miriam Breil at miriam.breil@issanet.org
Purpose
The Out of Network Asset Working Group (WG) will look to update the current challenges in providing safekeeping and supervisory services for out-of-network assets and revise its previously published legal and practice framework that:
- analyzes those challenges under comparative legal regimes and market practices
- demonstrates the extent to which advancements by market infrastructure and other market participants have helped to close the safekeeping and supervising gaps for out-of-network assets
- identifies possible approaches to close the remaining safekeeping and supervisory gaps for those asset classes
Scope
TBC
Key Deliverables
TBC
Key Outcomes
- To enhance informational transparency of the legal and practice contexts for these assets
- To enable more effective management of the risks associated with these assets
- To increase operational efficiencies among market participants in servicing these assets
Publications
- Watch Chris Rowland, State Street – and Executive Sponsor of ISSA’s Out of Network Assets – explain how ISSA will look to update the current challenges in providing safekeeping and supervisory services for out-of-network assets and revise its previously published legal and practice framework -> link
- Final Report on Hidden Risks in the Securities Services Industry – A Sampling of Consequences to Custodians, Clearers and (I)CSDs (06/2012) -> PDF 577 kB
- AGC / ISSA Joint Report on Addressing Challenges in Safekeeping and Supervisory Services for Out-of-Network Assets (04/2014) -> PDF 704 kB
Working Group Co-Chairs
- John Siena, BBH
- Stuart Warner, HSBC
Executive Sponsor
- Chris Rowland, State Street Bank and Trust
Institutions Represented by Experts in the Working Group
TBC