Changes ahead in 2017 for custodians

Changes ahead in 2017 for custodians

Custodial and asset administration firms will undergo continued regulatory, tax and operations changes through 2017, according to the Australian Custodial Services Association (ACSA).


The industry body said a number of incoming changes, such as the introduction of collective investment vehicles and the managed investment trust reforms, “are likely to shape the course of this year’s custody industry”.

“Under Operations, the proposed CHESS replacement, improvements in the standardisation of processing of discount securities and improvements to Proxy Voting Automation are all on the agenda for ACSA,” the group said.

“The year 2017 is shaping up to be another year of change and ACSA is well positioned to help the industry meet these new challenges,” said ACSA chair David Knights.

Mr Knights noted that the Australian custodial industry had undergone a number of changes in 2016 as well, with the implementation of both Accounting Standard AASB 1056 and ASIC Regulatory Guide 133, plus the shift from T+2 days settlement.

“At a strategic level, ACSA has been working with regulators and other industry bodies to ensure that industry changes are cost effective and improve the funds management and superannuation sector,” Mr Knights said.

Read more:

OneVue signs white label deals with three firms

IOOF names new chief investment officer

Senate passes adviser education standards

AMP announces $344m full-year loss

Investment cycle still in bullish territory

 

Changes ahead in 2017 for custodians
investordaily image
ID logo
promoted stories

Appointments

investordaily image

Fortnum hires former Centric Wealth CEO

Staff Reporter

Deborah Ralston

SMSF Association names new chair

Katarina Taurian

Curtis Cifuentes

Avenir Capital hires investment director

Staff Reporter

Analysis

Maurizio Canton

Striking a balance between security and innovation

Maurizio Canton

Greg Kuhnert

Backing China in the Year of the Dog

Greg Kuhert

investordaily image

The benefits of good data governance

Steve Singer