Custodians’ obligations information sheet

Under the regulations, custodians must meet obligations such as providing regular reports to clients and getting assurance reports from qualified auditors, among others. The regulations, enacted under the Financial Advisers Act 2008 (FA Act), relate closely to broker disclosure and conduct obligations under Part 3A of this Act. This information sheet explains the difference between a broker and a custodian, custodians for wholesale and managed investment scheme (MIS) clients, and custodians’ statutory obligations. We also list examples of different custodial arrangements.

Download the the obligations of custodians under the Financial Advisers (Custodians of FMCA Financial Products) Regulations 2014 information sheet, PDF