Full Description
Both an introduction to, and a detailed analysis of the law, this title gives clear guidance on the basic concepts of global custody and all new developments.
Providing the latest advice and information on custodial legislation, regulation and developments, it is essential reading for all those required to review and manage legal risk in this complex area as well as escrow services, cross-border securities collateral and the post-trade infrastructure. It provides an analysis of how these arrangements have been treated by English law in the past and how this has changed with the development of new systems.
The new Fifth Edition incorporates significant updates and analysis of developments relevant to custodian obligations, including: crypto concepts; current and proposed legislation regarding crypto in the UK, including the UK Law Commission's proposals (Consultation on Digital Assets); Brexit; Quincecare duty; FCA Consumer Duty; the implications of the broad scope of MiCAR (proposed EU Markets in Crypto-assets Regulation); AIFMD and UCITS requirements; impact of EU Regulation 909/2014 re central securities depositories on post-trade infrastructure; the new USD payments process, change for Irish securities, and an expanded discussion of Sponsors in relation to UK settlement systems.
With concern over the protection of client assets being ever present, this book provides clear guidance on the concepts relevant to entities holding cash and securities for clients, including applicable law, regulatory environment and relevant tax aspects.
This title is included in Bloomsbury Professional's Banking and Finance online service.
Contents
1. Introduction
2. Securities in the Electronic Environment - How Transfers Occur
3. Custodian as Trustee - The Custody Relationship in the Electronic Environment
4. The Use of the Custody Portfolio as Collateral
5. Cross-border Questions
6. The Global Custodian's Duties
7. Regulatory Duties
8. Overview of Post-trade Infrastructure
9. UK Settlement Systems
10. UK Taxation
11. Conclusions
