INMA 6.1.13 Assessing whether an eligible custodian is suitable
(1) When assessing the suitability of an eligible custodian, an INMA firm must ensure that the custodian will provide protection equivalent to the protection conferred by this Chapter.
(2) When assessing the suitability of an eligible custodian, an INMA firm must have regard to all the relevant circumstances including the following:
(a) the custodian’s expertise and market reputation;
(b) on a continuing basis, the quality of services that the custodian provides to the firm;
(c) the custodian’s arrangements for holding and safeguarding custody investments and its use of agents and service providers;
(d) the custodian’s credit rating, capital and financial resources;
(e) the regulatory and insolvency regimes of the jurisdiction in which the custodian is located;
(f) the custodian’s regulatory status and history.
|Derived from QFCRA RM/2014-4 (as from 1st January 2015).|