Welcome to APCC - Home Page. Custodian bank. A custodian bank, or simply custodian, is a specialized financial institution responsible for safeguarding a firm's or individual's financial assets and is not necessarily engaged in "traditional" commercial or consumer/retail banking such as mortgage or personal lending, branch banking, personal accounts, ATMs and so forth.
The role of a custodian in such a case would be to: Custodian banks are often referred to as global custodians if they safekeep assets for their clients in multiple jurisdictions around the world, using their own local branches or other local custodian banks with which they contract to be in their "global network" in each market to hold accounts for their respective clients. Assets held in such a manner are typically owned by larger institutional firms with a considerable amount of investments such as banks, insurance companies, mutual funds, hedge funds and pension funds. By far, the 4 largest custodian banks in the world are:[1] FSA Register. Electronic Money Electronic money (e-money) is money 'stored' electronically to spend later.
This includes on pre-paid cards, such as travel money cards and some gift cards. Banks and building societies that issue e-money, and some e-money institutions (EMIs), can be found on the financial services firms section of the Register. Most EMIs (which are e-money issuers other than banks and building societies) and firms that hold a ‘small e-money certificate’, are listed in the e-money section of the Register. Learn more about e-money issuers on the Register or search the Register for one now. FSA Handbook - Full Handbook. FSA Handbook - Full Handbook. FSA Handbook - Full Handbook. Smaller firms - One minute guides. Following a Discussion Paper (DP07/2) and subsequently our Feedback Statements (FS07/2) we committed to conduct a thematic project on the intermediary use of platforms.
We have finalised rules in our Policy Statement (PS11/09) and consulted on proposals in our Consultation Paper (CP12/12) on how we regulate platforms in a way that would achieve the objectives of the Retail Distribution Review (RDR). What is a platform? Platforms are online services, used by intermediaries (and sometimes consumers directly) to view and administer their investment portfolios. As well as providing facilities for investments to be bought and sold, platforms are often used to aggregate, and arrange custody for customers’ assets. So what is a wrap and a fund supermarket? Wraps and fund supermarkets are very similar. The term platform is often used to describe both wraps and fund supermarkets. What should I consider before adopting a platform? Using a platform can improve your business’ administration. FS08/1: Platforms and more principles-based regulation - Feedback on DP07/2. 01 Jan 2008 This Feedback Statement reports on the main issues arising from Discussion Paper 07/2 'Platforms: the role of wraps and fund supermarkets', published in June 2007.
Platforms: the role of wraps and fund supermarkets. DP07/0201 Jan 2007 The FSA's Discussion paper DP07/2 is entitled 'Platforms: the role of wraps and fund supermarkets'.
It was published in June 2007 and the period for responses closes on 26 October 2007. An additional chapter to DP07/2 was published on 17 September 2007 entitled 'The responsibilities of providers, distributors and platform providers for the fair treatment of customers where a platform is used in the supply of a product'. Newsletter [ PDF | 53 KB | 4 pages ] Press release: FSA publishes first paper from the Retail Distribution Review. Financial Services Authority. Financial Services Authority. The Financial Services Authority (FSA) was a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom between 2001 and 2013.
Its board was appointed by the Treasury, although it operated independently of government. It was structured as a company limited by guarantee and was funded entirely by fees charged to the financial services industry.[1][2] Until its abolition, Lord Turner of Ecchinswell was the FSA's Chairman[4] and Hector Sants was CEO until the end of June 2012, having announced his resignation on 16 March 2012.[5] Its main office was in Canary Wharf, London, with another office in Edinburgh. When acting as the competent authority for listing of shares on a stock exchange, it was referred to as the UK Listing Authority (UKLA),[6] and maintained the Official List. Central securities depository. Scope[edit] A CSD can be national or international in nature, and may be for a specific type of security, such as government bonds.
Domestic Central Securities Depository[edit] Many countries have one domestic CSD that was traditionally associated with the national stock exchange. These organizations are typically heavily regulated by the government and may or may not be separate from the exchanges where trading in securities occurs. Financial Services and Markets Act 2000. The Financial Services and Markets Act 2000 (c 8) is an Act of the Parliament of the United Kingdom that created the Financial Services Authority (FSA) as a regulator for insurance, investment business and banking.
Outline[edit] Some of the key sections of this act are: See also[edit] Notes[edit] External links[edit] Official text of the Financial Services and Markets Act 2000 as in force today (including any amendments) within the United Kingdom, from the UK Statute Law Database .