International Securities Services Association

International Securities Services Association

ACSDA General Assembly, Santiago – Chile, April 3, 2014

Governance

Communication

Working Groups

Symposium May 2014

ISSA Update

Urs Stähli, ISSA Secretary


Governance - Sponsoring Institutions and Board Members

Alain Pochet

Hani Kablawi

Lee R. Waite

Phil Brown

Stephen Lomas

John Van Verre

Andrew Gray

Nick Rudenstine

Mervyn Chiu

Thomas Zeeb

Alan Naughton

Chris Church

Paresh SodhaPierre Yves Goemans

Additional Board Members: Josef Landolt (Chairman)Neil Henderson, DTCC (Chair Operating Committee)Urs Stähli (Secretary)


Governance – Development of Membership

April 2013: 80 ISSA Members from 42 Countries

+ 8 New Members

- 5 Terminations (Mergers, no interest, arrears)

April 2014: 83 ISSA Members from 42 Countries


Governance – ACSDA and ISSA – some Numbers

28 ACSDA Members

7 21

16

3

4

4

12


Communication - Update

ISSA Homepage

new version since April 2013

www.issanet.org

ISSA Newsletters

on a quarterly basis (4)

on an ad-hoc basis (3)

Spotlight Videos

on Working Group Reports

http://www.issanet.org/


Working Groups

RegulatoryImpact

(Florence Fontan)

RegulatoryImpact

(Florence Fontan)

Corporate Actions(Ranjit Chatterji)

Corporate Actions(Ranjit Chatterji)

Comm. Standards& Reference Data(Irene Mermigidis)


Hidden Risks(Ed Neeck)

Hidden Risks(Ed Neeck)

2011/2012 June 2012 June – September 2012 2013 / 2014

Sym

posiu

m R

ep

ort

s Corporate Actions(John Kirkpatrick)

Corporate Actions(John Kirkpatrick)

Collect data frommajor markets to evaluate progress



Discuss with vendorsreceptiveness to implement unified global ETC/matchingmarket practice guide

Out of NetworkAssets

(Ed Neeck)

Out of NetworkAssets

(Ed Neeck)

CollateralManagement

(Angus Fletcher)

CollateralManagement

(Angus Fletcher)

(Activities on hold)

RegulatoryImpact

(Florence Fontan)

RegulatoryImpact

(Florence Fontan)

Full Report with selected CM topics

Full Report in cooperation with ACG

Issue Report on Shadow Banking

Rep

ort

s


Working Group «Global Principles for Corporate Actions andProxy Voting»

Main ContentsSurvey in 33 markets RealitiesRecommendations

Main ContentsSurvey in 33 markets RealitiesRecommendations

Recommendations for Next Steps

Promote Principles actively with industry participants, particularly CSDs and Exchanges

Promote regulatory change to require the digitization of CA information at source

Take a firm stand on and actively promote the use of ISO formats for cross-border CA info exchange

The working group should repeat this survey annually

The working group should publish a case study highlighting benefits in successful markets


Working Group «Regulatory Impacts on the Securities Value Chain – Shadow Banking»

Conclusions

Further Shadow Banking developments to be expectedin 2014

Different speed and focus on a regional level

Custodians (and Fund Depositaries) to closely study thereforms to be able to make adjustments to accounting anddisclosure policies and procedures

The jury is out as to whether proposed Money Market Fundreforms will impact client product appetite and whetheralternatives will benefit.

Conclusions

Further Shadow Banking developments to be expectedin 2014

Different speed and focus on a regional level

Custodians (and Fund Depositaries) to closely study thereforms to be able to make adjustments to accounting anddisclosure policies and procedures

The jury is out as to whether proposed Money Market Fundreforms will impact client product appetite and whetheralternatives will benefit.

Main ContentsGeneral Description of Shadow Banking InitiativesImpacts on Securities Lending and Repos TransactionsImpacts on Money Market Funds

Main ContentsGeneral Description of Shadow Banking InitiativesImpacts on Securities Lending and Repos TransactionsImpacts on Money Market Funds


Working Group «Collateral Management Best Practices»

Main ContentsBackground and Key Definitions Collateral Management37 Best Practice RecommendationsRegulatory Overview in EU; Future Trends

Main ContentsBackground and Key Definitions Collateral Management37 Best Practice RecommendationsRegulatory Overview in EU; Future Trends

Best Practice Recommendations

Collateral Protection (Collateral Segregation; Cash / Non-Cash Collateral; Cleared / Uncleared TRX)

Operational Processes Associated with Default Management (Pre-Default; Post-Default)

Customer Communication and Reporting (Message Automation; Pledge and Release Automation; Report Automation, Reconciliation)


Working Group ISSA and AGC «Out of Network Assets – Challenges in Safekeeping and Supervisory Services»

Main ContentsLegal and practice framework Advancements of Market InfrastructuresPossible approaches / recommendations to close gaps

Main ContentsLegal and practice framework Advancements of Market InfrastructuresPossible approaches / recommendations to close gaps

Out of Network Assets dealt with

Third-party Time Deposits

Interests in Funds / Collective Investment Schemes andPrivate Equity Funds

Bank Loans

Derivatives

Precious Metals

on legal nature / ownership, ownership interest and asset information, perfected security interests and title transfer arrangements.

Breakfast

May 20 (Tue) May 21 (Wed) May 22 (Thu) May 23 (Fri)

Cocktails and brief Welcome Remarks

Combined Board and OC Meeting

Arrival of the Participants

Departure

General Assembly

Presentation 'Know your Customer' (Practical View)

Lunch Break

Presentations / Conclusionsof Breakout Sessions

Key note Speech'Today's Regulatory Challenges and Trends'

Speech'Practical Application of Technology

to Solve Regulatory Challenges'

Introduction / Setting the Stage

Closing Remarks

Panel/Introduction to Breakout Sessions- Out of Network Assets- Collateral Management

Breakout Sessions Part 1(6 Groups)

BreakfastBreakfast

ISSA Symposium 2014: Responding to theRegulatory Challenges – Implications for the Industry

Breakout Sessions(6 Groups)

Dinner and Drinks Dinner and Drinks

Presentation 'Know your Customer'(Compliance View)

Panel / Q & A 'Reflection of Morning Presentations'

Introduction Breakout Sessions

Cocktails / Gala-Dinnerwith Entertainment

(Wolfsberg)

Breakout Sessions Part 2(6 Groups)

Feedback Reports Breakout Sessions

11

Lunch Break


ISSA Symposium 2014: Responding to the Regulatory Challenges – Implications for the Industry

May 20 – 23, 2014

International Securities Services Association

Documents

Transcript of International Securities Services Association