CIRCULAR 10P/2015 (Replacing Circular 09P/2014)

Size: px
Start display at page:

Download "CIRCULAR 10P/2015 (Replacing Circular 09P/2014)"

Transcription

1 (Replacing Circular 09P/2014) AGREED UPON PROCEDURES FOR REGISTERED AUDITORS REPORTING ON FACTUAL FINDINGS IN TERMS OF THE CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND THE FINANCIAL MARKETS ACT (FMA) 1

2 AGREED UPON PROCEDURES FOR REGISTERED AUDITORS REPORTING ON FACTUAL FINDINGS IN TERMS OF THE CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND THE FINANCIAL MARKETS ACT (FMA).01 The purpose of this Circular is to provide guidance for Registered Auditors when reporting in terms of the Central Securities Depository (CSD) Rules and the Financial Markets Act (FMA) on the compliance with the relevant sections of the FMA, Board Notices 96 and 100 of 2013 published in Government Gazette No Board Notice 96 provides details regarding the responsibilities of a Participant for maintaining the accounting records and internal controls to which this Circular relates. Board Notice 100 provides details regarding the matters to be reported on by the Auditor of a Regulated Person..02 This Circular contains the agreed-upon procedures to be performed by the Registered Auditor of a Participant (Participant includes Primary Participant and Secondary Participant where applicable) regarding the implementation and operating effectiveness of key controls (identified by management of the Participant), that are designed to meet the control objectives (specified by Strate (Pty) Limited [Strate]), for transactions relating to the settlement, custody and administration, of Strate eligible securities. The format for the Registered Auditor s factual findings report is set out in the appendix..03 The procedures to be performed have been agreed by the Participants and the Controlling Body of Strate. The Circular has been approved 2

3 by the Controlling Body of Strate, specifically the Strate Regulatory and Supervisory Committee. Introduction.04 The Strate Circular 10P/2015 sets out the agreed upon procedures to be performed by Registered Auditors 1 reporting on factual findings in respect of compliance by Participants with the CSD Rules, in respect of their implementation of internal controls to meet specified objectives for their settlement, custody and administration of Strate eligible securities..05 Circular 09P/2014 has been replaced to correct a reference to the applicable FMA Board Notice..06 The CSD Rules 2 relating to the reporting responsibilities of Registered Auditors, require: The Registered Auditor of the Participant must submit a factual findings report annually to the Controlling Body, within 90 (ninety) calendar days after the financial year-end of the Participant which complies with the Strate Circular, the Act and Rules. The Registered Auditor responsible for the audit of the SARB or a Participant which is also a bank, must submit the factual findings report within 6 (six) months after the financial year-end of such bank Participant or the SARB The Registered Auditor of the Participant must annually report to the Controlling Body whether or not: The Participant complies with the requirements of the Act and the Rules regarding the maintenance of Securities Accounts; and 1 Registered Auditor means an individual or firm registered as an auditor with the Independent Regulatory Board for Auditors in terms of the Auditing Profession Act, 26 of The CSD Rules are appropriately amended with the permission of Strate to accommodate changes resulting from the enactment of the Auditing Profession Act, 26 of

4 The Participant complies with the Rules relating to the reconciliation of Securities Accounts to the Central Securities Accounts kept by the CSD The Participant complies with Rule 5.1.1, and on the adequacy of the arrangements made and measures taken by such Participant on holding of sufficient Securities in terms of Rule 5.1. Responsibility of the management of the Participant.07 The management of the Participant are required to design, implement and maintain the operating effectiveness of adequate systems of internal control throughout the financial year, relevant to the business conducted by the Participant as set out more fully in the FMA, the CSD Rules, Board Notice 96 and 100 of For the purposes of the agreed-upon procedures engagement, the management of the Participant are required to identify the key controls implemented by them and to provide evidence to their Registered Auditors, that the operating effectiveness of such controls has been maintained throughout the period reported on, to meet the control objectives, specified by Strate (described in the agreed-upon procedures section of this Circular.).09 For the purposes of the report of factual findings, the management of the Participant are required to provide explanations for any deviations from and /or identified in the implementation or operating effectiveness of key controls. Auditor s responsibilities.10 The Registered Auditor conducts the agreed-upon procedures engagement in accordance with the International Standard on Related Services, Engagements to perform agreed-upon procedures regarding financial information (ISRS 4400)..11 The responsibility for determining the adequacy and appropriateness of the agreed-upon procedures to be performed by the Registered 4

5 Auditor is that of Strate and the Participant. The Registered Auditor has no responsibility for determining the adequacy or appropriateness of the procedures for the purpose of this engagement. The Registered Auditor carries out the procedures agreed upon, and uses the evidence obtained as the basis for the report of factual findings to Strate in the format indicated in the appendix..12 The Registered Auditor of the Participant is required to have an understanding of the relevant sections of the FMA and applicable Notices, the CSD Rules, Directives issued by Strate, the Companies Act and the STT Act in order to perform this agreed-upon procedures engagement. Sample selection.13 The sample size and the basis of selection is to be agreed annually between the Controlling Body of Strate (specifically STRATE Supervision), the Participant and the Registered Auditor in a tripartite meeting before the commencement of the agreed-upon procedures engagement. The report of factual findings of the Registered Auditor is to state the size of the sample selected for testing each relevant control objective. (The sample will be drawn from the full period to which the agreed upon procedures engagement relates). Reporting.14 The Registered Auditor reports on factual findings in terms of ISRS 4400, in the format set out in the appendix to this Circular..15 When reporting, the Registered Auditor shall include sufficient information, where applicable, to enable Strate to investigate the transactions. This information shall include the following: SAFIRES order number System operated by Strate for Equities Securities (including warrants); 5

6 MMSS / ETME order number System operated by Strate for Money Market Securities; Strate Bonds System Trade Leg Number; Settlement date; Client name; Client Securities Account number; Client Segregated Depository Account number; ISIN International Securities Identification Number; Quantity of Securities; and Explanation provided by the management. Agreed-upon procedures.16 The Registered Auditor shall perform the following agreed-upon procedures, where applicable to the Participant, and shall report the factual findings on these procedures: Client Mandates 1. From the client list, select a sample of clients and perform the following procedures: 1.1 For each client determine if a client mandate is in place, and through inspection determine whether the mandate contains the information prescribed in CSD Rule For all client mandates selected, verify that the records are kept in a secure location (for example, a locked cabinet with access control, or a vault) or there is evidence that the records are kept at a filing service provider. In the case where records are kept at a filing service provider, a signed service level agreement is in place to confirm that the records are secure. 6

7 Dematerialisation and Rematerialisation Equities 2. Document the key controls identified by the management that address each of the control objectives listed below in respect of dematerialisation and rematerialisation transactions: 2.1 Loss of physical securities is prevented. 2.2 Securities details are completely and accurately loaded onto the system. 2.3 Errors made in submissions to transfer secretaries are detected on a timely basis. 2.4 Securities for dematerialisation that are rejected by a transfer secretary are completely and accurately recorded. 2.5 Resident batches are processed separately from nonresident batches in respect to broker clients. 2.6 Duplication in orders is detected. 2.7 The securities holding of the client s Securities Account or Segregated Depository Account is accurately increased/ decreased following the completion of a dematerialisation and rematerialisation transaction. 3. Select a sample of both dematerialisation and rematerialisation orders from the order records and test through inspection and observation whether the key controls identified by the management have been implemented and whether they operated effectively during the period reported on for each item selected. Immobilisation, Dematerialisation and Withdrawals Bonds 4. Document the key controls identified by the management that address each of the control objectives listed below in respect of immobilisation, dematerialisation and withdrawal transactions: 7

8 4.1 Loss of physical securities is prevented. 4.2 Securities details are completely and accurately loaded onto the system. 4.3 Errors made in submissions to the CSD are detected on a timely basis. 4.4 Securities for immobilisation and/ or dematerialisation that are rejected by the CSD are completely and accurately recorded. 4.5 Duplication in orders is detected. 4.6 The securities holding of the client s Securities Account or Segregated Depository Account is accurately increased/ decreased following the completion of an immobilisation, dematerialisation and/ or withdrawal transaction. 5. Select a sample of immobilisation, dematerialisation and withdrawal orders from the order records and test through inspection and observation whether the key controls identified by the management have been implemented and whether they operated effectively during the period reported on for each item selected. Rematerialisation Money Markets 6. Document the key controls identified by the management that address each of the control objectives listed below in respect of rematerialisation transactions: 6.1 Securities details are completely and accurately loaded onto the system. 6.2 Turnaround times are kept to within seven business days. 6.3 Errors made in submissions to Strate and/ or Issuers are detected on a timely basis. 8

9 6.4 Requests for rematerialisation that are rejected by Strate and/ or Issuers are completely and accurately recorded. 6.5 Duplication in orders is detected. 6.6 The securities holding of the client s Money Market Securities Ownership Register Account is accurately decreased following the completion of a rematerialisation transaction. 7. Select a sample of rematerialisation orders from the order records and test through inspection and observation whether the key controls identified by the management have been implemented and whether they operated effectively during the period reported on for each item selected. Operation of Securities Accounts / Segregated Depository Accounts 8. Document the key controls identified by the management that address each of the control objectives listed below in respect of Securities Accounts and/ or Segregated Depository Accounts: 8.1 The accuracy of client details is established when opening Securities Accounts and/ or Segregated Depository Accounts on the system. 8.2 Securities Accounts and/ or Segregated Depository Accounts are opened in accordance with the CSD Rules, and If the Securities Account and/ or Segregated Depository Account is opened in the name of a nominee, the nominee is approved in terms of section 76 of the FMA, the CSD Rules and Directives; and If the Securities Account and/or Segregated Depository Account is opened in the client s 9

10 own name, the own name client complies with the FMA, the CSD Rules, and Directives. 8.3 Subsequent changes (opening, maintaining, altering or closing) to Securities Accounts and/ or Segregated Depository Accounts, if any, are duly authorised and accurately executed. 8.4 The securities holdings of the Participant are segregated from the securities holdings of the clients. 8.5 Each client s holdings are segregated from the holdings of other clients. 8.6 Holdings that are Strate eligible (dematerialised securities) are distinguished from those holdings that are not (certificated securities). 8.7 If a Participant records a pledge or cession to secure a debt on behalf of a client in a Securities Account and/ or Segregated Depository Account, this is done in accordance with CSD Rules and 7.8 where applicable. 8.8 Statements of holdings have been sent to clients at least bi-annually. 9. Select a sample of Securities Account and Segregated Depository Account opening and modification transactions from the transaction history reflected on the custody system and test through inspection and observation whether the key controls identified by the management have been implemented and whether they operated effectively during the period reported on for each item selected. 10. Select a sample of Securities Accounts and Segregated Depository Accounts from the client list, and determine whether Directives SA.3 and SA.4, SA.7, SE.2 and CSD Rules 5.9.1, 6.6 and 6.7 are being adhered to. 10

11 Balancing 11. Document the key controls identified by the management that address each of the control objectives listed below in respect of balancing procedures: 11.1 For each ISIN, balancing of the client holdings with the aggregate holding in that ISIN takes place on a daily basis For each ISIN, the aggregate holding agrees to the corresponding Central Securities Account / Segregated Depository Account at Strate on a daily basis With respect to 11.1 and 11.2 the Participant ensures that imbalances are resolved and cleared within 24 hours. NOTE: Imbalances relating to for example; the processing of a dematerialisation or rematerialisation order, or, the processing of a corporate action, are not regarded as a discrepancy or transgression if reconciled and resolved / cleared within 24 hours In respect of securities, the system, or other adequate controls prevents processing of negative balances The Strate Compliance Officer reviews and signs off the activities, which have been undertaken by the Participant in 11.1 and 11.2, on a daily basis. 12. Select a sample of daily ISIN balancing procedures and test through inspection and observation whether the key controls identified by the management have been implemented and whether they operated effectively during the period reported on for each item selected. 13. Inspect a sample of the client statements and/ or client Securities Accounts on the custody system that covers the period reported on to determine if there are any negative balances. 11

12 Settlement 14. Document the key controls identified by the management that address each of the control objectives listed below in respect of settlement procedures: 14.1 Every entry in a Securities Account and/ or Segregated Depository Account is executed pursuant to a corresponding Authorising Instruction, a Standing Instruction or a BEE Instruction in terms of the Client Mandate or BEE Contract Every entry in a Securities Account and/ or Segregated Depository Account is executed in accordance with the Strate Settlement and Operational Windows Directives. 15. Select a sample of settlement transactions, covering the financial period reported on, from the transaction history reflected on the custody system and, for each item selected, perform the following procedures: 15.1 Inspect and observe whether the key controls identified by the management have been implemented and whether they operated effectively during the period reported on Agree the client settlement instructions communicated in a supporting fax or SWIFT message to the details entered into the custody system Agree the details entered into the custody system to the applicable message standard sent to Strate confirming the transaction Agree the details of the transaction as reflected in the Strate records to the client statement with the aim of evaluating whether the client receives true value (cash and securities) on the same day as settlement takes place Agree the underlying transaction to the CSD system with the use of the applicable transaction reference number to 12

13 determine whether the transaction has been reported to Strate Select a sample of transactions that have not been reported to Strate for settlement and determine the reasons for such internal book entries. Securities Transfer Tax Act (STT Act) Equities 16. Document the key controls identified by the management that address each of the control objectives listed below in respect of settlement procedures: 16.1 The system automatically defaults the STT indicator to "YES" when capturing a client instruction The indicator can only be changed in certain circumstances (when advised by the client) and when relevant supporting documentation is obtained. 17. Observe the entering of the client instruction on the custody system to determine whether the system defaults to levy STT. 18. Select from the transaction history reflected on the custody system a sample of off-market transactions, which cover the financial period reported on, where the STT indicator has been changed so that no STT is levied, and inspect the relevant supporting documentation to confirm that it meets the requirements of the STT Act. 19. Select a sample of the client mandates and determine whether these mandates contain a "blanket" mandate from the client to change the tax indicator for all transactions (i.e. the STT indicator should only be changed on a case-bycase basis). 13

14 Corporate Actions Equities 20. Document the key controls identified by the management that address each of the control objectives listed below in respect of Corporate Actions: 20.1 All Corporate Action Announcements and all subsequent updates are detected and acted upon within the timeframes stipulated in the CSD Rules and Directives All clients having a holding in the applicable ISIN on Record Date and to which the Announcement relates, have received copies of all such Strate Corporate Action Announcements If clients have not received Announcements in terms of 20.2, inspect evidence that the client mandate adheres to Rule The missing of deadlines of the Corporate Action by both the Participant and its clients is prevented The client responses on elective events are accurately captured on a timely basis as per the CSD Rules and Directives and the client mandate Strate is accurately notified of client elections on elective events on a timely basis as per the CSD Rules and Directives In respect of proxy voting, proxies and/ or letters of representation are requested from the nominee and received in sufficient time for the beneficial owner to attend and vote at the meeting Cash and/ or security entitlements are credited to the account of the holder (nominee or beneficial) on the same day as received from the CSD, so that true value is ensured on settlement day. 21. Select a sample of corporate events from the diary of such events, for the period reported on, and, for each item selected, perform the following procedures: 14

15 21.1 Inspect and observe whether the key controls identified by the management have been implemented and whether they operated effectively during the period reported on Inspect the record of clients that have holdings in the applicable ISIN on Record Date and, for the sample of clients selected, inspect the copy of the notification / Announcement, as well as any updates where salient information has been included or changed, to such clients of the event. Determine whether the notification / Announcement or subsequent update thereof is dated within the time period prescribed in the CSD Rules and Directives Inspect the reconciliation prepared by the Participant to prove that the aggregate of client records agrees to the applicable Central Securities Account or Segregated Depository Account at Strate after each corporate event. Capital Events Bonds 22. Document the key controls identified by the management that address each of the control objectives listed below in respect of coupon and maturity payments: 22.1 All notices of payments are detected and acted upon within the timeframes stipulated in the CSD Rules and Directives Cash entitlements are credited to the account of the holder (nominee or beneficial) on the same day as received from the CSD, so that true value is ensured on settlement day. 23. Select a sample of events from the diary of such events covering the period reported on, and for each item selected, perform the following procedures: 15

16 23.1 Inspect and observe whether the key controls identified by the management have been implemented and whether they operated effectively during the period reported on Inspect the reconciliation prepared by the Participant to prove that the aggregate of client cash entitlements agrees to the cash entitlement to be received in respect of the Central Securities Account or Segregated Depository Account maintained at Strate. Capital Events Money Markets 24. Document the key controls identified by the management that address each of the control objectives listed below in respect of coupon and maturity payments: 24.1 All notices of payments are detected and acted upon within the timeframes stipulated in the CSD Rules and Directives Cash entitlements are credited to the account of the beneficial holder or foreign nominee on the same day as received from the CSD, so that true value is ensured on settlement day. 25. Select a sample of events from the diary of such events covering the period reported on, and for each item selected, perform the following procedures: 25.1 Inspect and observe whether the key controls identified by the management have been implemented and whether they operated effectively during the period reported on for each item selected Inspect the reconciliation prepared by the Participant to prove that the aggregate of client cash entitlements agrees to the cash entitlement received in the South African Multiple Options System. 16

17 BEE Securities 26. Document the key controls identified by the management that address each of the control objectives listed below in respect of BEE Securities: 26.1 For any Non-Controlled Client, who is the beneficial owner of BEE Securities, that the BEE Contract has been concluded, and any BEE Certificate or identity document, as the case may be, required in terms of the BEE Contract, has been obtained For all BEE Contracts selected, verify that the records are kept in a secure location (for example, a locked cabinet with access control, or a vault), or there is evidence that the records are kept at a filing service provider. In the case where records are kept at a filing service provider, a signed service level agreement is in place to confirm that the records are secure Where BEE Securities have been pledged, that statements to the Client or the person to whom the securities have been pledged or ceded, indicate that the BEE Securities may only be transferred in accordance with the BEE Contract. 27. Select a sample of BEE Securities custody positions, covering the financial period reported on, and for each item selected, perform the following procedures: 27.1 Inspect and observe whether the key controls identified by the management have been implemented and whether they operated effectively during the period reported on Determine if a BEE Contract and any BEE Certificate or identity document, as the case may be, is in place. 17

18 27.3 Determine if statements (in respect of paragraph 26.3) indicate that the BEE Securities may only be transferred in accordance with the BEE Contract. Segregated Depository Accounts Equities and Bonds 28. Where a Segregated Depository Account has been opened, determine if a client mandate is in place with the Primary Participant, and through inspection determine whether the mandate contains the provision as stated in Rule Where a client has chosen to appoint the Participant as a Secondary Participant, determine if a client mandate is in place, and through inspection determine whether the mandate contains the provision as stated in Rule Where a client has chosen to appoint the Participant as a Secondary Participant, determine if the Participant has provided written proof to the CSD that it has assented to act as a Secondary Participant in terms of CSD Rule Select a sample of Segregated Depository Accounts and determine and verify that these same accounts have been opened and are active at the CSD. 18

19 APPENDIX Set out below is the format of the report of factual findings in compliance with the CSD Rules and the FMA. REPORT OF FACTUAL FINDINGS OF THE REGISTERED AUDITOR TO [INSERT NAME OF PARTICIPANT] AND THE CONTROLLING BODY OF STRATE ON FACTUAL FINDINGS Scope We have performed the procedures agreed with [insert name of participant] (the Participant) and the Controlling Body of Strate enumerated in the attached table with respect to the implementation and operating effectiveness of the system of internal control for the year ending [insert year end]. Our engagement was undertaken in accordance with the International Standard on Related Services 4400, Engagements to Perform Agreed-upon Procedures Regarding Financial Information and was performed solely to assist the Participant in reporting to Controlling Body of Strate on its compliance with the requirements of the Financial Markets Act No 19 of 2012, the Central Securities Depository (CSD) Rules, and Notices 96 and 100 of 2013, issued by the Financial Services Board in terms of the Financial Markets Act. The responsibility for determining the adequacy or otherwise of the procedures agreed to be performed is that of the Controlling Body of Strate and the Participant. Procedures and findings Our procedures and findings are detailed in the attached table, initialled for identification purposes. In addition, the attached schedule includes explanations by management of the Participant, regarding any deviations from and/ or identified in the implementation or operating effectiveness of key controls to meet the control objectives for each relevant transaction type specified by Strate. We are not required to and have not performed any 19

20 additional procedures to corroborate management s explanations and provide no assurance in regard to them. Because the procedures do not constitute either an audit or a review made in accordance with International Standards on Auditing or International Standards on Review Engagements, we do not express any assurance on the implementation and operating effectiveness of the controls identified by management. Had we performed additional procedures, other matters might have come to our attention, which we would have reported to you. Restriction on use and distribution Our report and the attached schedule are solely for the purpose set forth in the first paragraph of this report and for your information, and are not to be used for any other purpose or to be distributed to any other parties. This report relates only to the matters specified in our report of factual findings, and does not extend to the implementation or operating effectiveness of the internal controls of the Participant taken as a whole. <Insert name of firm that is the Registered Auditor, unless on firm s letterhead> <Insert name of individual partner / director responsible for the engagement> Registered Auditor Address Date 20

21 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) Key control objectives of Strate Key controls identified by the management 21 Procedures performed by the Registered Auditor [tailor as appropriate for business] Client Mandates From the client list, selected a sample of clients and performed the following procedures: For each client, determined if a client mandate was in place, and through inspection determined whether the mandate contained the information prescribed in CSD Rule For all client mandates selected, inspected that the records were kept in a secure location (for example, a locked cabinet with access control, or a vault) or there was evidence that the records are kept at a filing service provider. In the case where records are kept at a filing service provider, a signed service level agreement is in place to confirm that the records are secure. Dematerialisation and Rematerialisation Equities Loss of physical securities is prevented. Securities details are completely and accurately loaded onto the system. Errors made in submissions to transfer secretaries are detected on a timely basis. Securities for dematerialisation that Selected a sample of both dematerialisation and rematerialisation orders from the order records and tested through inspection and observation whether the key controls identified by the management were implemented and whether they operated effectively during the period reported on. Findings and noted Explanations from the management in respect of

22 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) Immobilisation, Dematerialisation and Withdrawals Bonds Key control objectives of Strate are rejected by a transfer secretary are completely and accurately recorded. Resident batches are processed separately from non-resident batches in respect to broker clients. Duplication in orders is detected. The securities holding of the client s Securities Account or Segregated Depository Account is accurately increased/ decreased following the completion of a dematerialisation and rematerialisation transaction. Loss of physical securities is prevented. Securities details are completely and accurately loaded onto the system. Errors made in submissions to the CSD are detected on a timely basis. Securities for immobilisation and/ or dematerialisation that are rejected by the CSD are completely and accurately recorded. Duplication in orders is detected. The securities holding of the client s Securities Account or Segregated Key controls identified by the management Procedures performed by the Registered Auditor [tailor as appropriate for business] Selected a sample of immobilisation, dematerialisation and withdrawal orders from the order records and tested through inspection and observation whether the key controls identified by the management were implemented and whether they operated effectively during the period reported on. Findings and noted Explanations from the management in respect of 22

23 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) Rematerialisation Money Markets Key control objectives of Strate Depository Account is accurately increased/ decreased following the completion of an immobilisation, dematerialisation and withdrawal transaction. Securities details are completely and accurately loaded onto the system. Turnaround times are kept to within seven business days. Errors made in submissions to Strate and/ or Issuers are detected on a timely basis. Requests for rematerialisation that are rejected by Strate and/ or Issuers are completely and accurately recorded. Duplication in orders is detected. The securities holding of the client s MM Securities Ownership Register Account is accurately decreased following the completion of a rematerialisation transaction. Key controls identified by the management Procedures performed by the Registered Auditor [tailor as appropriate for business] Selected a sample of rematerialisation orders from the order records and tested through inspection and observation whether the key controls identified by the management were implemented and whether they operated effectively during the period reported on. Findings and noted Explanations from the management in respect of Operation of Securities Accounts / Segregated The accuracy of client details is established when opening Securities Accounts and/ or Segregated 23 Selected a sample of Securities Account and/ or Segregated Depository Account opening and modification transactions from

24 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) Depository Accounts Key control objectives of Strate Depository Accounts on the system, Securities Accounts and/ or Segregated Depository Accounts are opened in accordance with the CSD Rules, - Where the Securities Account or Segregated Depository Account is opened in the name of a nominee, the nominee is approved in terms of section 76 of the FMA, the CSD Rules, and Directives. - Where the Securities Account or Segregated Depository Account is opened in the client s own name, the own name client complies with the FMA, the CSD Rules, and Directives. Subsequent changes (opening, maintaining, altering or closing) to Securities Accounts and/ or Segregated Depository Accounts, if any, are duly authorised and accurately executed. The securities holdings of the Participant are segregated from those of its clients. Key controls identified by the management Procedures performed by the Registered Auditor [tailor as appropriate for business] the transaction history reflected on the custody system and tested through inspection and observation whether the key controls identified by the management were implemented and whether they operated effectively during the period reported on. Selected a sample of Securities Accounts and Segregated Depository Accounts from the client list, and determined whether Directive SA.3, SA.4, SA.7, SE.2 and CSD Rule 5.9.1, 6.6 and 6.7 were being adhered to. Findings and noted Explanations from the management in respect of 24

25 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) Balancing Key control objectives of Strate Each client s holdings are segregated from the holdings of other clients. Holdings that are Strate eligible (dematerialised securities) are distinguished from those that are not (certificated securities). Where a Participant records a pledge or cession to secure a debt on behalf of a client in a Securities Account or Segregated Depository Account, this is done in accordance with CSD Rules and 7.8 where applicable Statements of holdings have been sent to clients at least bi-annually. For each ISIN, balancing of the client holdings with the aggregate holding in that ISIN takes place on a daily basis. For each ISIN, the aggregate holding agrees to the corresponding Central Securities Account at Strate on a daily basis. With respect to the previous two objectives, the Participant ensures that imbalances are resolved and cleared within 24 hours. Key controls identified by the management Procedures performed by the Registered Auditor [tailor as appropriate for business] Selected a sample of daily ISIN balancing procedures and tested through inspection and observation whether the key controls identified by the management were implemented and whether they operated effectively during the period reported on. Inspected a sample of the client statements and/or client Securities Accounts on the custody system, covering the period reported on, to Findings and noted Explanations from the management in respect of 25

26 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) Settlement Key control objectives of Strate In respect of securities, the system prevents processing of negative balances. The Strate Compliance Officer reviews and signs off, on a daily basis, that for each ISIN the client holdings balances with the aggregate holdings in that security and that the aggregate holdings agrees to the corresponding Central Securities Account / Segregated Depository Account at Strate. Every entry in a Securities Account and/ or Segregated Depository Account is executed pursuant to a corresponding Authorising Instruction, Standing Instruction or a BEE Instruction in terms of the client mandate or BEE Contract. Every entry in a Securities Account and/ or Segregated Depository Account is executed in accordance with the Strate Settlement and Operational Windows Directives. Key controls identified by the management Procedures performed by the Registered Auditor [tailor as appropriate for business] determine if there were any negative balances. Selected a sample of daily ISIN balancing procedures and tested through inspection and observation whether the balancing activities undertaken by the Participant were reviewed and signed off by the Strate Compliance Officer on a daily basis. Selected a sample of settlement transactions, covering the financial period reported on, from the transaction history reflected on the custody system and performed the following procedures: Tested through inspection and observation whether the key controls identified by the management were implemented and whether they operated effectively during the period reported on; Agreed the client settlement instructions communicated in a supporting fax or SWIFT message to the details entered Findings and noted Explanations from the management in respect of 26

27 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) Securities Transfer Tax Act (STT Act) Equities Key control objectives of Strate The system automatically defaults the STT indicator to "YES" when capturing a client instruction. The indicator can only be changed in certain circumstances (when advised by the client) and when relevant Key controls identified by the management Procedures performed by the Registered Auditor [tailor as appropriate for business] into the custody system. Agreed the details entered into the custody system to the applicable message standard sent to Strate confirming the transaction. Agreed the details of the transaction as reflected in the Strate records to the client statement for evaluating whether the client received true value (cash and securities) on the same day as the settlement took place. Agreed the underlying transaction to the CSD system through the use of the applicable transaction reference number to determine whether the transaction was reported to Strate. Selected a sample of transactions that have not been reported to Strate for settlement and determine the reasons for such internal book entries. Observed that the client instruction was entered into the custody system to determine whether the system defaults to levy STT. Selected a sample of off-market transactions from the transaction history reflected on the Findings and noted Explanations from the management in respect of 27

28 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) Key control objectives of Strate supporting documentation is obtained. Key controls identified by the management Procedures performed by the Registered Auditor [tailor as appropriate for business] custody system, covering the financial period reported on, where the STT indicator was changed so that no STT was levied, and inspected the relevant supporting documentation to confirm that it met the requirements of the STT Act. Findings and noted Explanations from the management in respect of Selected a sample of the client mandates and determined whether these mandates contained a "blanket" mandate from the client to change the tax indicator for all transactions. 28

29 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) Corporate actions Equities Key control objectives of Strate All Corporate Action Announcements and all subsequent updates are detected and acted upon within the timeframes stipulated in the CSD Rules and Directives. All clients having a holding in the applicable ISIN on Record Date to which the Announcement relates, have received copies of all Strate Corporate Action Announcements. Where clients have not received Announcements, inspect evidence that the client mandate adheres to Rule The missing of deadlines of a Corporate Action by both the Participant and its clients is prevented. The client responses on elective events are accurately captured on a timely basis as per the CSD Rules and Directives and the client mandate. Client elections on elective events are accurately reported to Strate on a timely basis as per the CSD Rules and Directives. Key controls identified by the management Procedures performed by the Registered Auditor [tailor as appropriate for business] The Registered Auditor selected a sample of corporate events from the diary of such events, for the period reported on, and performed the following procedures: Tested through inspection and observation whether the key controls identified by the management were implemented and whether they operated effectively during the period reported on. Inspected the record of clients with holdings in the applicable ISIN on Record Date and, for the sample of clients selected, inspected the copy of notification / Announcement, as well as any updates where salient information has been included or changed, to such clients of the event. Determined whether the notification / Announcement or subsequent update thereof was dated within the time period prescribed in the CSD Rules and Directives. Inspected the reconciliation prepared by the Participant to determine whether the aggregate of client records agreed to the applicable Central Securities Account or Findings and noted Explanations from the management in respect of 29

30 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) Key control objectives of Strate In respect of proxy voting, proxies and/ or letters of representation are requested from the nominee and received in sufficient time for the beneficial owner to attend and vote at the meeting. Cash and/ or security entitlements are credited to the account of the holder (nominee or beneficial) on the same day as received from the CSD, so that true value is ensured on settlement day. The aggregate of client records must agree to the applicable Central Securities Account or Segregated Depository Account at Strate after each corporate event. Key controls identified by the management Procedures performed by the Registered Auditor [tailor as appropriate for business] Segregated Depository Account at Strate after each corporate event. Findings and noted Explanations from the management in respect of 30

31 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) Capital Events Bonds Capital Events Money Markets Key control objectives of Strate All notices of payments are detected and acted upon within the timeframes stipulated in the CSD Rules and Directives. Cash entitlements are credited to the account of the holder (nominee or beneficial) on the same day as received from the CSD, so that true value is ensured on settlement day. The aggregate of client cash entitlements must agree to the cash entitlement to be received in respect of the Central Securities Account or Segregated Depository Account maintained at Strate. All notices of payments are detected and acted upon within the timeframes stipulated in the CSD Rules and Directives. Cash entitlements are credited to the account of the beneficial holder on the same day as received from the CSD, so that true value is ensured on settlement day. The aggregate of client cash Key controls identified by the management Procedures performed by the Registered Auditor [tailor as appropriate for business] The Registered Auditor selected a sample of events from the diary of such events, covering the period reported on, and performed the following procedures: Tested through inspection and observation whether the key controls identified by the management were implemented and whether they operated effectively during the period reported on. Inspected the reconciliation prepared by the Participant to prove that the aggregate of client cash entitlements agreed to the cash entitlement to be received in respect of the Central Securities Account or Segregated Depository Account maintained at Strate. The Registered Auditor selected a sample from the diary of such events covering the period reported on, and performed the following procedures: Tested through inspection and observation whether the key controls identified by the management were implemented and whether they operated effectively during the period reported on for a sample of the Findings and noted Explanations from the management in respect of 31

32 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) Key control objectives of Strate entitlements must agree to the cash entitlements received in the South African Multiple Options System. Key controls identified by the management Procedures performed by the Registered Auditor [tailor as appropriate for business] clients from each of those events. Inspected the reconciliation prepared by the Participant to prove that the aggregate of client cash entitlements agreed to the cash entitlement received in the South African Multiple Options System. Findings and noted Explanations from the management in respect of 32

33 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) BEE Securities Key control objectives of Strate For any Non-Controlled Client who is the beneficial owner of BEE Securities, that the BEE Contract has been concluded, and any BEE Certificate or identity document, as the case may be, required in terms of the BEE Contract has been obtained. For all BEE Contract selected, verify that the records are kept in a secure location, or there is evidence that the records are kept at a filing service provider. In the case where records are kept at a filing service provider, a signed service level agreement is in place to confirm that the records are secure. Where BEE Securities have been pledged, that statements to the Client or the person to whom the securities have been pledged or ceded, indicate that the BEE Securities may only be transferred in accordance with the BEE Contract. Key controls identified by the management Procedures performed by the Registered Auditor [tailor as appropriate for business] Selected a sample of BEE Securities custody positions and tested through inspection and observation whether the key controls identified by the management were implemented and whether they operated effectively during the period reported on. Determined if a BEE Contract and any BEE Certificate or any identity document, as the case may be, is in place. Determined if statements (iro pledges / cessions) indicated that the BEE Securities may only be transferred in accordance with the BEE Contract. Findings and noted Explanations from the management in respect of 33

34 GUIDANCE FOR AUDITORS: REPORTING IN TERMS OF CENTRAL SECURITIES DEPOSITORY (CSD) RULES AND FINANCIAL MARKETS ACT (FMA) Segregated Depository Accounts Equities and Bonds Key control objectives of Strate Where the Participant is acting as the Primary Participant, a client mandate containing the provisions as stated in Rule must be in place. Where the Participant is acting as the Secondary Participant, a client mandate containing the provisions as stated in Rule must be in place. Where the Participant is acting as the Secondary Participant, proof of the approval to be appointment as a Secondary Participant must be in place. All Segregated Depository Accounts opened at the Participant, are open and active at the CSD. Key controls identified by the management Procedures performed by the Registered Auditor [tailor as appropriate for business] Where a Segregated Depository Account has been opened, determine if a client mandate is in place with the Primary Participant, and through inspection determine whether the mandate contains the provision as stated in Rule Where a client has chosen to appoint the Participant as a Secondary Participant, determine if a client mandate is in place, and through inspection determine whether the mandate contains the provision as stated in Rule Where a client has chosen to appoint the Participant as a Secondary Participant, determine if the Participant has provided written proof to the CSD that it has assented to act as a Secondary Participant in terms of CSD Rule Select a sample of Segregated Depository Accounts and determine and verify that these same accounts have been opened and are active at the CSD. Findings and noted Explanations from the management in respect of 34

RULES OF STRATE (PTY) LTD

RULES OF STRATE (PTY) LTD 1 st Floor 9 Fricker Road, Illovo Boulevard Illovo, Sandton 2196, South Africa PO Box 78608, Sandton 2146 Johannesburg, South Africa Tel: +27 11 759 5300 Fax: +27 11 759 5500 www.strate.co.za RULES OF

More information

A2X Markets Fee Schedule

A2X Markets Fee Schedule 1 st Floor 9 Fricker Road, Illovo Boulevard Illovo, Sandton 2196, South Africa PO Box 78608, Sandton 2146 Johannesburg, South Africa A2X Markets Fee Schedule Tel: +27 11 759 5300 Fax: +27 11 759 5500 www.strate.co.za

More information

JSE EQUITIES ISSUER FEE SCHEDULE

JSE EQUITIES ISSUER FEE SCHEDULE JSE EQUITIES ISSUER FEE SCHEDULE 2019 Fee Schedule 2019 Strate consolidates pertinent information received or obtained in public announcements, annual reports or circulars in respect of local meeting notifications;

More information

Special Gazette No S DIRECTIVE SC.4

Special Gazette No S DIRECTIVE SC.4 DIRECTIVE OF STRATE PROPRIETARY LIMITED Special Gazette No S DIRECTIVE SC.4 Processing of Corporate Actions Equities Registration Number 1998/022242/07 Processing of Corporate Actions Equities To facilitate,

More information

PRO-FORMA AUDITOR S REPORTS TO BE SUBMITTED TO THE EXECUTIVE COMMITTEE OF THE JSE LIMITED AND REPORTING DEADLINES 1

PRO-FORMA AUDITOR S REPORTS TO BE SUBMITTED TO THE EXECUTIVE COMMITTEE OF THE JSE LIMITED AND REPORTING DEADLINES 1 PRO-FORMA AUDITOR S REPORTS TO BE SUBMITTED TO THE EXECUTIVE COMMITTEE OF THE JSE LIMITED AND REPORTING DEADLINES 1 Illustrative Report Page Reporting Deadline Cover Letter 2-3 1 A copy of the audited

More information

PRO-FORMA AUDITOR S REPORTS TO BE SUBMITTED TO THE EXECUTIVE COMMITTEE OF THE JSE LIMITED AND REPORTING DEADLINES 1

PRO-FORMA AUDITOR S REPORTS TO BE SUBMITTED TO THE EXECUTIVE COMMITTEE OF THE JSE LIMITED AND REPORTING DEADLINES 1 STOCKBROKERS AUDITORS REPORTS PRO-FORMA AUDITOR S REPORTS TO BE SUBMITTED TO THE EXECUTIVE COMMITTEE OF THE JSE LIMITED AND REPORTING DEADLINES 1 Report Page Reporting Deadline 1 A copy of the audited

More information

Guidance Notes for the Trading, Clearing & Settlement and custody of BEE Securities listed under the BEE Verification model YeboYethu

Guidance Notes for the Trading, Clearing & Settlement and custody of BEE Securities listed under the BEE Verification model YeboYethu Guidance Notes for the Trading, Clearing & Settlement and custody of BEE Securities listed under the BEE Verification model YeboYethu JSE Limited Reg No: 2005/022939/06 Member of the World Federation of

More information

OPERATING MANUAL. Version No. 7 Effective as of granting an authorisation under CSDR

OPERATING MANUAL. Version No. 7 Effective as of granting an authorisation under CSDR OPERATING MANUAL Version No. 7 Effective as of granting an authorisation under CSDR PART I INTRODUCTORY PROVISIONS 3 PART II PARTICIPANT OF THE CENTRAL DEPOSITORY 8 PART III RULES FOR KEEPING RECORDS OF

More information

Debt Instruments Solution (DIS) Project

Debt Instruments Solution (DIS) Project Debt Instruments Solution (DIS) Project 14 March 2017 Contents 1. Introduction...3 2. Purpose of this document...3 3. Settlements...4 3.1 Settlement Cycles and Guiding Principles...4 3.2. Transaction Types...

More information

A2X TRADING RULES. A2X Rules. Page 1

A2X TRADING RULES. A2X Rules. Page 1 A2X TRADING RULES Page 1 SECTION CONTENT OF THE RULES PAGE NUMBER Index Index 2 Introduction Introduction 3 Section 1 Definitions and interpretation 4 Section 2 Applications for and termination of Membership

More information

Registration number: 1998/001018/06

Registration number: 1998/001018/06 1 Acorn Agri and Food Limited Registration number: 1998/001018/06 Acorn Agri and Food Share Administration Agreement between Acorn Agri and Food Limited (Herein after referred to as the Company or Acorn

More information

Custody and Settlement Agreement for a Private Investor

Custody and Settlement Agreement for a Private Investor Custody and Settlement Agreement for a Private Investor G. TERMS AND CONDITIONS OF CUSTODY AGREEMENT Computershare Proprietary Limited Reg. No. 2000/006082/07 1. INTERPRETATION 1.1 Unless otherwise expressly

More information

External Confirmations from Financial Institutions

External Confirmations from Financial Institutions SAAPS 6 JULY 2013 South African Auditing Practice Statement (SAAPS) 6 External Confirmations from Financial Institutions Copyright 2013 - the Independent Regulatory Board for Auditors (IRBA). All rights

More information

PRACTICE NOTE REPORTS ON INTERNAL CONTROLS OF INVESTMENT CUSTODIANS MADE AVAILABLE TO THIRD PARTIES

PRACTICE NOTE REPORTS ON INTERNAL CONTROLS OF INVESTMENT CUSTODIANS MADE AVAILABLE TO THIRD PARTIES PRACTICE NOTE 860.2 REPORTS ON INTERNAL CONTROLS OF INVESTMENT CUSTODIANS MADE AVAILABLE TO THIRD PARTIES (Issued June 1999; revised September 2004 (name change); revised May 2010) PN 860.2 (May 2010)

More information

BOND ETP. Settlement Model. Date: 25 April 2018 Version 2.0 Author: JSE Post Trade Services

BOND ETP. Settlement Model. Date: 25 April 2018 Version 2.0 Author: JSE Post Trade Services BOND ETP Settlement Model Date: 25 April 2018 Version 2.0 Author: JSE Post Trade Services Table of Contents Version control... 3 1. Introduction... 4 2. The bond market ecosystem... 5 3. Settlement model

More information

Custody and Settlement Agreement for Institutional Clients A

Custody and Settlement Agreement for Institutional Clients A Custody and Settlement Agreement for Institutional Clients A PERSONAL DETAILS Name of company/trust/other Legal Entity (hereinafter referred to as the Client ) Computershare Proprietary Limited Reg. No.

More information

ANGLORAND SECURITIES LIMITED ( ARS ) CONSOLIDATED MANDATE

ANGLORAND SECURITIES LIMITED ( ARS ) CONSOLIDATED MANDATE ANGLORAND SECURITIES LIMITED ( ARS ) CONSOLIDATED MANDATE 1 SECTION 1: CLIENT DETAIL 1.1 Client Name: the client 1.2 ID Number/Registration number: 1.3 Distribution of contract notes and statement: Please

More information

CIRCULAR TO ROCKCASTLE SHAREHOLDERS

CIRCULAR TO ROCKCASTLE SHAREHOLDERS THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 5 of this circular have been used in this front cover section. If you are in any

More information

How to Invest. in ZAR X Listed Securities

How to Invest. in ZAR X Listed Securities How to Invest in ZAR X Listed Securities How to Invest in ZAR X Listed Securities 1. STEP ONE Open an account with a ZAR X authorised broker. For a list of authorised brokers please go to https://www.zarx.co.za/broker-list

More information

THE GAZETTE OF INDIA EXTRAORDINARY. PART II - SECTION 3 - SUB-SECTION (ii) PUBLISHED BY AUTHORITY NOTIFICATION. MUMBAI, THE 16th DAY OF MAY, 1996

THE GAZETTE OF INDIA EXTRAORDINARY. PART II - SECTION 3 - SUB-SECTION (ii) PUBLISHED BY AUTHORITY NOTIFICATION. MUMBAI, THE 16th DAY OF MAY, 1996 THE GAZETTE OF INDIA EXTRAORDINARY PART II - SECTION 3 - SUB-SECTION (ii) PUBLISHED BY AUTHORITY NOTIFICATION MUMBAI, THE 16th DAY OF MAY, 1996 SECURITIES AND EXCHANGE BOARD OF INDIA (DEPOSITORIES AND

More information

RULES Table of Contents

RULES Table of Contents CENTRAL SECURITIES DEPOSITORY COMPANY OF BOTSWANA LIMITED RULES Table of Contents Introduction 3 Page Section Title 1 Legal and Contractual Framework 3 2 Definitions and Interpretations 6 3 Nominated Transfer

More information

FORM OF INSTRUCTION IN RESPECT OF THE LETTER OF ALLOCATION

FORM OF INSTRUCTION IN RESPECT OF THE LETTER OF ALLOCATION FORM OF INSTRUCTION IN RESPECT OF THE LETTER OF ALLOCATION If you are in doubt as to how to deal with this Form of Instruction, you should consult your CSDP, Broker, attorney, accountant, banker or other

More information

"RS Official Gazette" Nos 60/2011, /correction 61/2011

RS Official Gazette Nos 60/2011, /correction 61/2011 "RS Official Gazette" Nos 60/2011, /correction 61/2011 In accordance with Article 15, Paragraph 1 and Article 64, Paragraph 2 of the Law on the National Bank of Serbia ( Official Gazette of the Republic

More information

LCH SA CDS Clearing Procedures

LCH SA CDS Clearing Procedures LCH SA CDS Clearing Procedures Section 5-1 August 2016 CONTENTS SECTION 5 - CDS CLEARING OPERATIONS 5.1 THE CDS CLEARING SERVICE... 3 5.2 BACKLOADING TRANSACTIONS... 3 5.3 CLEARING OF CLIENT TRADE LEGS...

More information

1.2 "business day" is any calendar day which is not a Saturday, Sunday or public holiday within the Republic of South Africa;

1.2 business day is any calendar day which is not a Saturday, Sunday or public holiday within the Republic of South Africa; TERMS AND CONDITIONS 1. Definitions 1.1 The administrator of the Satrix Investment plan is Automated Outsourcing Services (Pty) Ltd ( AOS ), or any other institution appointed by Satrix Managers (Pty)

More information

LCH SA CDS Clearing Procedures Section 5 - CDS Clearing Operations 9 April 2018

LCH SA CDS Clearing Procedures Section 5 - CDS Clearing Operations 9 April 2018 LCH SA CDS Clearing Procedures Section 5-9 April 2018 Classification: Public CONTENTS SECTION 5 - CDS CLEARING OPERATIONS 5.1 THE CDS CLEARING SERVICE... 3 5.2 BACKLOADING TRANSACTIONS... 3 5.3 CLEARING

More information

Client Asset Report for Fund Management Companies

Client Asset Report for Fund Management Companies XX 2018 Audit and Assurance Practice Guide X Client Asset Report for Fund Management Companies AUDIT AND ASSURANCE PRACTICE GUIDE X Client Asset Report for Fund Management Companies EFFECTIVE FOR FINANCIAL

More information

Integrated Trading & Clearing (ITaC) CSDP Working Group Securities Collateral 16 October 2017

Integrated Trading & Clearing (ITaC) CSDP Working Group Securities Collateral 16 October 2017 Integrated Trading & Clearing (ITaC) CSDP Working Group Securities Collateral 16 October 2017 1 Agenda JSE collateral service and processes Proposed collateral process timings Normal (typical) day Exception

More information

CUSTODY AND SETTLEMENT AGREEMENT: PRIVATE INVESTOR A. PERSONAL DETAILS (hereinafter referred to as the Client ) Title (Mr/Mrs/Ms/Dr/Prof):

CUSTODY AND SETTLEMENT AGREEMENT: PRIVATE INVESTOR A. PERSONAL DETAILS (hereinafter referred to as the Client ) Title (Mr/Mrs/Ms/Dr/Prof): CUSTODY AND SETTLEMENT AGREEMENT: PRIVATE INVESTOR A. PERSONAL DETAILS (hereinafter referred to as the Client ) Surname: Title (Mr/Mrs/Ms/Dr/Prof): First name(s) in full: Identity number / Passport number:

More information

1.1 The administrator of The etfsa Investor Scheme is Automated Outsourcing Services (Pty) Ltd ( AOS ).

1.1 The administrator of The etfsa Investor Scheme is Automated Outsourcing Services (Pty) Ltd ( AOS ). TERMS AND CONDITIONS 1. Definitions 1.1 The administrator of The etfsa Investor Scheme is Automated Outsourcing Services (Pty) Ltd ( AOS ). 1.2 "business day" is any calendar day which is not a Saturday,

More information

Articles of Incorporation Zurich Insurance Group Ltd 2016

Articles of Incorporation Zurich Insurance Group Ltd 2016 Articles of Incorporation Zurich Insurance Group Ltd 2016 Translation of the Articles of Incorporation of Zurich Insurance Group Ltd, Switzerland This is a translation of the original German version. In

More information

Latvian Central Depository Regulation No.3 On Financial Instruments Accounting

Latvian Central Depository Regulation No.3 On Financial Instruments Accounting UNOFFICIAL TRANSLATION APPROVED BY Latvian Central Depository Council Meeting January 23, 2004 Amendments approved By LCD Management Board December, 17, 2009 Latvian Central Depository Regulation No.3

More information

Mandate for Banking Services. with permanent tsb. Company

Mandate for Banking Services. with permanent tsb. Company Mandate for Banking Services with permanent tsb Company Introduction This Mandate authorises permanent tsb to open accounts and provide services to the Company. It lists individuals authorised to open

More information

CLEARING, SETTLEMENT AND CENTRAL DEPOSITORY MODULE

CLEARING, SETTLEMENT AND CENTRAL DEPOSITORY MODULE CLEARING, SETTLEMENT AND CENTRAL DEPOSITORY MODULE MODULE: CSD: CLEARING, SETTLEMENT AND CENTRAL DEPOSITORY Table of Contents CSD-A CSD-B CSD-1 CSD-2 Date Last Changed Introduction CSD-A.1 Purpose 04/2016

More information

PROCEDURES FOR VOTING AT THE EGM FOR HOLDERS OF EXISTING OFFSHORE PREFERENCE SHARES

PROCEDURES FOR VOTING AT THE EGM FOR HOLDERS OF EXISTING OFFSHORE PREFERENCE SHARES Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness

More information

Incorporation of physical securities into the bookentry

Incorporation of physical securities into the bookentry Incorporation of physical securities into the bookentry system Decision of Euroclear Finland s CEO To: Issuers Account operators Issuer agents Reference to the Rules: 2.2.46, 2.2.49, 3.1.37 and 3.2.2 Ratified:

More information

Translation of the original German text. Articles of Association of Bell Food Group Ltd

Translation of the original German text. Articles of Association of Bell Food Group Ltd Translation of the original German text Articles of Association of Bell Food Group Ltd Articles of Association of Bell Food Group Ltd I. Business name, seat and object of the Company Article 1 Under the

More information

OFFERING OF SECURITIES MODULE

OFFERING OF SECURITIES MODULE Central Bank of Bahrain Rulebook Volume 6 Capital Markets OFFERING OF SECURITIES MODULE Central Bank of Bahrain Rulebook Volume 6 Capital Markets MODULE OFS: Offering of Securities Table of Contents Date

More information

1.1 The administrator of the ETF Investment Plan ( ETF Investment Plan ) is Automated Outsourcing Services (Pty) Ltd ( AOS ),

1.1 The administrator of the ETF Investment Plan ( ETF Investment Plan ) is Automated Outsourcing Services (Pty) Ltd ( AOS ), TERMS AND CONDITIONS 1. Definitions 1.1 The administrator of the ETF Investment Plan ( ETF Investment Plan ) is Automated Outsourcing Services (Pty) Ltd ( AOS ), 1.2 "business day" is any calendar day

More information

National Securities Depository Limited Principles for Financial Market Infrastructure Disclosure

National Securities Depository Limited Principles for Financial Market Infrastructure Disclosure National Securities Depository Limited Principles for Financial Market Infrastructure Disclosure Page 1 of 38 Table of Contents I. Executive Summary... 3 II. Summary of Major Changes since the Last Update

More information

Principles applicable to auditors reports to regulators

Principles applicable to auditors reports to regulators Guidance for reporting in accordance with the Client Asset Requirements issued by the Irish Financial Services Regulatory Authority ( Financial Regulator ) in November 2007. This guidance is issued by

More information

GENERAL TERMS AND CONDITIONS

GENERAL TERMS AND CONDITIONS GENERAL TERMS AND CONDITIONS 1. This is a mandate as contemplated in the rules ( the rules ) of the JSE Securities Exchange of South Africa ( the JSE ) and the relevant legislation. 2. The mandate shall

More information

NOTICE OF ANNUAL GENERAL MEETING

NOTICE OF ANNUAL GENERAL MEETING NOTICE OF ANNUAL GENERAL MEETING This document is important and requires your immediate attention. If you are in any doubt as to what action you should take arising from the following resolutions, please

More information

CHAPTER ONE. Article (1) Definitions. QFMA: Qatar Financial Markets Authority established as per Law No. (33) of 2005 and its amendments.

CHAPTER ONE. Article (1) Definitions. QFMA: Qatar Financial Markets Authority established as per Law No. (33) of 2005 and its amendments. CHAPTER ONE Article (1) Definitions In the Application of the provisions of this Regulation, the following words and expressions shall have the meanings shown against each of them, unless the context indicates

More information

Client Money and Asset Return (CMAR) This annex contains guidance on the CMAR and is therefore addressed only to a firm which is

Client Money and Asset Return (CMAR) This annex contains guidance on the CMAR and is therefore addressed only to a firm which is Client Money and Asset Return (CMAR) This annex contains guidance on the CMAR and is therefore addressed only to a firm which is subject to SUP 16.14. General Terms used in the CMAR bear the meaning ascribed

More information

Custody and Settlement Agreement - ZAR X Securities

Custody and Settlement Agreement - ZAR X Securities Custody and Settlement Agreement - ZAR X Securities Computershare Proprietary Limited Reg. No. 2000/006082/07 A. PERSONAL DETAILS Surname/Name of company/trust/other Legal Entity (hereinafter referred

More information

LISTINGS RULES OF THE NIGERIAN STOCK EXCHANGE CHAPTER [ ] LISTING OF DEPOSITARY RECEIPTS 1. Introduction

LISTINGS RULES OF THE NIGERIAN STOCK EXCHANGE CHAPTER [ ] LISTING OF DEPOSITARY RECEIPTS 1. Introduction LISTINGS RULES OF THE NIGERIAN STOCK EXCHANGE CHAPTER [ ] LISTING OF DEPOSITARY RECEIPTS 1 Introduction This Chapter sets out The Exchange s requirements relating to Depositary Receipts (DRs). The aim

More information

CONSOLIDATED MANDATE GENERAL TERMS AND CONDITIONS

CONSOLIDATED MANDATE GENERAL TERMS AND CONDITIONS CONSOLIDATED MANDATE GENERAL TERMS AND CONDITIONS 1. This is a mandate as contemplated in the rules (the rules) of the Johannesburg Stock Exchange (the JSE) and the relevant legislation. 2. The mandate

More information

PROCEDURES SECTION 4 MARGIN AND COLLATERAL

PROCEDURES SECTION 4 MARGIN AND COLLATERAL LCH.CLEARNET LIMITED PROCEDURES SECTION 4 MARGIN AND COLLATERAL CONTENTS Section Page 1. Collateral... 1 1.1 General Information... 1 1.2 Documentation... 5 1.3 Instructions via CMS... 7 1.4 Settlement

More information

YEBOYETHU (RF) LIMITED OWN-BROKER TRADING PROCESS: VERIFICATION REQUIREMENTS, TERMS AND CONDITIONS

YEBOYETHU (RF) LIMITED OWN-BROKER TRADING PROCESS: VERIFICATION REQUIREMENTS, TERMS AND CONDITIONS YEBOYETHU (RF) LIMITED OWN-BROKER TRADING PROCESS: VERIFICATION REQUIREMENTS, TERMS AND CONDITIONS 2 TABLE OF CONTENTS PAGE NO. 1 Sections to these Terms... 3 2 Limits, exclusions, liabilities, risks and

More information

Client Name. Account number. Partner code. Dealer ACCOUNT OPENING FORM, MANDATE, MATERIAL OBLIGATIONS & FICA CHECKLIST.

Client Name. Account number. Partner code. Dealer ACCOUNT OPENING FORM, MANDATE, MATERIAL OBLIGATIONS & FICA CHECKLIST. To Be Completed by Avior Client Name Account number Partner code Dealer ACCOUNT OPENING FORM, MANDATE, MATERIAL OBLIGATIONS & FICA CHECKLIST FOR A LEGAL ENTITY Registered name Trading name Registration

More information

GOVERNMENT GAZETTE REPUBLIC OF NAMIBIA

GOVERNMENT GAZETTE REPUBLIC OF NAMIBIA GOVERNMENT GAZETTE OF THE REPUBLIC OF NAMIBIA N$13.60 WINDHOEK - 29 February 2016 No. 5955 CONTENTS Page GOVERNMENT NOTICE No. 31 Determination of conditions in terms of section 4(1)(f) of the Stock Exchanges

More information

Circular to Brimstone shareholders

Circular to Brimstone shareholders THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. The definitions commencing on page 4 of this circular apply mutatis mutandis to this front cover. Action required If you are in any doubt

More information

1. Introduction. 2. Notice of Scheme Meeting

1. Introduction. 2. Notice of Scheme Meeting HOLDSPORT LIMITED (Incorporated in the Republic of South Africa) (Registration number 2006/022562/06) Share code: HSP ISIN: ZAE000157046 ("Holdsport") LONG4LIFE LIMITED (Incorporated in the Republic of

More information

Bourse de Montréal Inc. 7-1 RULE SEVEN OPERATIONS OF APPROVED PARTICIPANTS. Section Financial Conditions - General

Bourse de Montréal Inc. 7-1 RULE SEVEN OPERATIONS OF APPROVED PARTICIPANTS. Section Financial Conditions - General Bourse de Montréal Inc. 7-1 7001 Compliance with Legal Requirements RULE SEVEN OPERATIONS OF APPROVED PARTICIPANTS Section 7001-7075 Financial Conditions - General Every approved participant must comply

More information

Payment of yield in the OM system Decision of Euroclear Finland s CEO. To: Issuers Account operators Clearing parties Issuer agents

Payment of yield in the OM system Decision of Euroclear Finland s CEO. To: Issuers Account operators Clearing parties Issuer agents Payment of yield in the OM system Decision of Euroclear Finland s CEO To: Issuers Account operators Clearing parties Issuer agents Reference to the Rules: 3.3.20 Ratified: 29 April 2015 Entry into force:

More information

BURSA MALAYSIA SECURITIES BERHAD LISTING REQUIREMENTS

BURSA MALAYSIA SECURITIES BERHAD LISTING REQUIREMENTS BURSA MALAYSIA SECURITIES BERHAD LISTING REQUIREMENTS Table of Contents CHAPTER 1 DEFINITIONS AND INTERPRETATION PART A DEFINITIONS 1.01 Definitions PART B INTERPRETATION 1.02 Interpretation 1.03 Incidental

More information

TERMS AND CONDITIONS OF THE SECURITIES INVESTMENT PLAN

TERMS AND CONDITIONS OF THE SECURITIES INVESTMENT PLAN VERSION 3.0 TERMS AND CONDITIONS OF THE SECURITIES INVESTMENT PLAN Automated Outsourcing Services (Pty) Ltd is the Provider and Administrator of the Securities Investment Plan. DEFINITIONS The following

More information

NOTICE OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS Notice dated 17 August 2018

NOTICE OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS Notice dated 17 August 2018 Grindrod Shipping Holdings Ltd. (Incorporated in Singapore) (Registration number: 201731497H) Primary listing on the NASDAQ Global Select Market Secondary listing on the JSE Main Board NASDAQ Share code:

More information

Financial Advisers (Custodians of FMCA Financial Products) Regulations 2014 (LI 2014/48)

Financial Advisers (Custodians of FMCA Financial Products) Regulations 2014 (LI 2014/48) Reprint as at (LI 2014/48) Jerry Mateparae, Governor-General Order in Council At Wellington this 24th day of February 2014 Present: His Excellency the Governor-General in Council Pursuant to section 154

More information

Hand Book for Issuers

Hand Book for Issuers Hand Book for Issuers Version 2.0 October 2015 Document Information Copyright Notice Contents of this document are protected under South African copyright law. No part of this document may be copied, completely

More information

Mandate for Banking Services. with permanent tsb. Unincorporated Club, Society or Charity. (the 'Association')

Mandate for Banking Services. with permanent tsb. Unincorporated Club, Society or Charity. (the 'Association') Mandate for Banking Services with permanent tsb Unincorporated Club, Society or Charity (the 'Association') Introduction This Mandate authorises permanent tsb to open accounts and provide services to the

More information

3. Obligations of the Investment Manager

3. Obligations of the Investment Manager TRIPARTITE AGREEMENT 1/5 Tripartite agreement 1. Account relationship The relations that the client (the Client ) has established with Banque de Luxembourg (the Bank") are governed by the Bank s Account

More information

Crest. Electronic Share Trading

Crest. Electronic Share Trading Crest Electronic Share Trading Rules, Procedures, Practices, Guidelines & Interpretations Contact: Donal Savage + 353 (0)1 6087819 Document reviewed February 2018 1 Table of Contents 1. Introduction...4

More information

Annexure B. To the [directors of name of benefit administrator] 1 and to the Registrar of Pension Funds

Annexure B. To the [directors of name of benefit administrator] 1 and to the Registrar of Pension Funds Annexure B Report of the Independent Auditor of [name of administrator] on the Conditions in respect of Benefit Administrators on behalf of Pension Funds To the [directors of name of administrator] 1 and

More information

Audit Protocol for the Private Copying Regulation Version 1 January 2018

Audit Protocol for the Private Copying Regulation Version 1 January 2018 Audit Protocol for the Private Copying Regulation Version 1 January 2018 Introduction This Audit Protocol elaborates on the obligations of the contracting parties by virtue of Article 10 of the Collection

More information

FORM OF PROXY (for use by certificated and own name dematerialised shareholders only)

FORM OF PROXY (for use by certificated and own name dematerialised shareholders only) PEMBURY LIFESTYLE GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration number 2013/205899/06) ( PL Group or the Company ) ISIN Code: ZAE000222949 JSE Code: PEM FORM OF PROXY (for

More information

VERSION 1.0 ENDOWMENT POLICY TERMS AND CONDITIONS

VERSION 1.0 ENDOWMENT POLICY TERMS AND CONDITIONS VERSION 1.0 ENDOWMENT POLICY TERMS AND CONDITIONS The Policy is underwritten by Prescient Life (RF) Limited. This document contains the terms and conditions applicable to your investment and sets out the

More information

BOARD NOTICE FINANCIAL SERVICES BOARD

BOARD NOTICE FINANCIAL SERVICES BOARD BOARD NOTICE No:.... 2010 FINANCIAL SERVICES BOARD SECTION 13B OF THE PENSION FUNDS ACT, 1956 CONDITIONS DETERMINED IN RESPECT OF ADMINISTRATORS ACTING ON BEHALF OF PENSION FUNDS The Registrar of Pension

More information

entered into between ( You ) 1 (insert full name of person who/which is: (insert identity number/registration number/it reference number)

entered into between ( You ) 1 (insert full name of person who/which is: (insert identity number/registration number/it reference number) BEE CONTRACT (which comprises the generic terms set forth below and, as regards each Specified Issuer, the Additional Terms which form an integral part of This BEE Contract) Your attention is drawn to

More information

DIRECTIVE ON CENTRAL COUNTERPARTY SERVICE TO BE PROVIDED BY ISTANBUL SETTLEMENT AND CUSTODY BANK INCORPORATION TO BORSA ISTANBUL INCORPORATION

DIRECTIVE ON CENTRAL COUNTERPARTY SERVICE TO BE PROVIDED BY ISTANBUL SETTLEMENT AND CUSTODY BANK INCORPORATION TO BORSA ISTANBUL INCORPORATION DIRECTIVE ON CENTRAL COUNTERPARTY SERVICE TO BE PROVIDED BY ISTANBUL SETTLEMENT AND CUSTODY BANK INCORPORATION TO BORSA ISTANBUL INCORPORATION FUTURES AND OPTIONS MARKET AND THE CLEARING AND SETTLEMENT

More information

The JSE Limited Debt Listings Requirements

The JSE Limited Debt Listings Requirements The JSE Limited Debt Listings Requirements BULLETIN LETIN 1 of 2015 8 July 2015 Dear Subscriber JSE Debt Listings Requirements The JSE made amendments to the JSE Debt Listings Requirements in respect of

More information

VERIFICATION FORM (BLACK PEOPLE)

VERIFICATION FORM (BLACK PEOPLE) VERIFICATION FORM (BLACK PEOPLE) This is the Verification Form (Black People) to be completed for purposes of the BEE Verification Process in respect of the Standard Trading Process, the Own-Broker Trading

More information

AMENDMENTS THE CENTRAL SECURITIES DEPOSITORY RULES AND CORRESPONDING INSTRUCTIONS

AMENDMENTS THE CENTRAL SECURITIES DEPOSITORY RULES AND CORRESPONDING INSTRUCTIONS AMENDMENTS THE CENTRAL SECURITIES DEPOSITORY RULES AND CORRESPONDING INSTRUCTIONS By resolution n. 19606 of the 11 th May 2016 CONSOB approved in agreement with Banca d Italia the amendments to the Rules

More information

YEBOYETHU (RF) LIMITED STANDARD TRADING PROCESS: VERIFICATION REQUIREMENTS, TERMS AND CONDITIONS

YEBOYETHU (RF) LIMITED STANDARD TRADING PROCESS: VERIFICATION REQUIREMENTS, TERMS AND CONDITIONS YEBOYETHU (RF) LIMITED STANDARD TRADING PROCESS: VERIFICATION REQUIREMENTS, TERMS AND CONDITIONS 2 TABLE OF CONTENTS PAGE NO. 1 Sections to these Terms... 3 2 Limits, exclusions, liabilities, risks and

More information

RS Official Gazette, Nos 55/2015, 82/2015, 29/2018 and 15/2019

RS Official Gazette, Nos 55/2015, 82/2015, 29/2018 and 15/2019 RS Official Gazette, Nos 55/2015, 82/2015, 29/2018 and 15/2019 Pursuant to Article 80, paragraphs 3 and 10, Article 81, paragraph 5, Article 82, paragraph 5, Article 104, paragraph 5, Article 119, paragraph

More information

COMMISSION DELEGATED REGULATION (EU) /... of amending Delegated Regulation (EU) No 231/2013 as regards safe-keeping duties of depositaries

COMMISSION DELEGATED REGULATION (EU) /... of amending Delegated Regulation (EU) No 231/2013 as regards safe-keeping duties of depositaries EUROPEAN COMMISSION Brussels, 12.7.2018 C(2018) 4377 final COMMISSION DELEGATED REGULATION (EU) /... of 12.7.2018 amending Delegated Regulation (EU) No 231/2013 as regards safe-keeping duties of depositaries

More information

Government Gazette REPUBLIC OF SOUTH AFRICA

Government Gazette REPUBLIC OF SOUTH AFRICA Government Gazette REPUBLIC OF SOUTH AFRICA Vol. 509 Cape Town 15 November 2007 No. 30474 THE PRESIDENCY No. 1080 15 November 2007 It is hereby notified that the President has assented to the following

More information

Circular to Shareholders regarding:

Circular to Shareholders regarding: THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 10 of this Circular apply throughout this Circular, including these cover pages (unless

More information

Guidelines for Constituents Subsidiary General Ledger (CSGL) Account. Guidelines for Constituents Subsidiary General Ledger (CSGL) Account

Guidelines for Constituents Subsidiary General Ledger (CSGL) Account. Guidelines for Constituents Subsidiary General Ledger (CSGL) Account Guidelines for Constituents Subsidiary General Ledger (CSGL) Account Reserve Bank of India To all SGL Accountholders Dear Sir, Guidelines for Constituents Subsidiary General Ledger (CSGL) Account With

More information

Supplement No. 1 published with Extraordinary Gazette No. 11 dated 1 June, THE PROCEEDS OF CRIMINAL CONDUCT LAW (2005 REVISION)

Supplement No. 1 published with Extraordinary Gazette No. 11 dated 1 June, THE PROCEEDS OF CRIMINAL CONDUCT LAW (2005 REVISION) CAYMAN ISLANDS Supplement No. 1 published with Extraordinary Gazette No. 11 dated 1 June, 2007. THE PROCEEDS OF CRIMINAL CONDUCT LAW (2005 REVISION) THE MONEY LAUNDERING (AMENDMENT) REGULATIONS, 2007 THE

More information

Articles. Zurich Financial Services Ltd

Articles. Zurich Financial Services Ltd 2009 Articles Zurich Financial Services Ltd Articles of Incorporation of Zurich Financial Services Ltd Translation of the Articles of Incorporation of Zurich Financial Services Ltd, Switzerland I Name,

More information

RIGHTS AND OBLIGATIONS OF PARTICIPANTS

RIGHTS AND OBLIGATIONS OF PARTICIPANTS SECTION 4 RIGHTS AND OBLIGATIONS OF PARTICIPANTS 4.1 PARTICIPANTS ONGOING COMPLIANCE... 4 4.1.1 General compliance... 4 4.2 DISASTER RECOVERY REQUIREMENTS... 5 4.2.1 Participant to maintain disaster recovery

More information

Swiss Federal Banking Commission Circular: Audit Reports of Banks and Securities Firms. 29 June 2005 (Latest amendment: 24 November 2005)

Swiss Federal Banking Commission Circular: Audit Reports of Banks and Securities Firms. 29 June 2005 (Latest amendment: 24 November 2005) SFBC Circular 05/2 Audit Reports Page 1 Swiss Federal Banking Commission Circular: Audit Reports of Banks and Securities Firms (Audit Reports) 29 June 2005 (Latest amendment: 24 November 2005) Contents

More information

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION If you are in any doubt as to the action you should take in relation to this notice, please consult your Central Securities Depository Participant

More information

Chapter 13 EQUITY SECURITIES RESTRICTIONS ON PURCHASE, DISPOSAL AND SUBSCRIPTION. Restrictions on preferential treatment

Chapter 13 EQUITY SECURITIES RESTRICTIONS ON PURCHASE, DISPOSAL AND SUBSCRIPTION. Restrictions on preferential treatment Chapter 13 EQUITY SECURITIES RESTRICTIONS ON PURCHASE, DISPOSAL AND SUBSCRIPTION Restrictions on preferential treatment 13.01 With regard to all securities offered for subscription or sale to the public

More information

1. Company Name, Registered Office, Duration and Purpose of the Company

1. Company Name, Registered Office, Duration and Purpose of the Company This is an unofficial translation of the original Articles of Incorporation in German language for information purposes only. Only the original version in German has legal effect. Articles of Incorporation

More information

YEBOYETHU (RF) LIMITED OFF-MARKET TRANSFERS PROCESS: VERIFICATION REQUIREMENTS, TERMS AND CONDITIONS

YEBOYETHU (RF) LIMITED OFF-MARKET TRANSFERS PROCESS: VERIFICATION REQUIREMENTS, TERMS AND CONDITIONS YEBOYETHU (RF) LIMITED OFF-MARKET TRANSFERS PROCESS: VERIFICATION REQUIREMENTS, TERMS AND CONDITIONS 2 TABLE OF CONTENTS PAGE NO. 1 Sections to these Terms... 3 2 Limits, exclusions, liabilities, risks

More information

Page 1 of 6 Private Investor June 2012 V2.3

Page 1 of 6 Private Investor June 2012 V2.3 Page 1 of 6 Private Investor June 2012 V2.3 A. PERSONAL DETAILS (hereinafter referred to as the Client ) Surname: CUSTODY AND SETTLEMENT AGREEMENT: PRIVATE INVESTOR First name(s) in full: Title (Mr/Mrs/Ms/Dr/Prof):

More information

On December 16, 2009, the Securities and Exchange Commission (the

On December 16, 2009, the Securities and Exchange Commission (the , Arps, Slate, Meag her & Flom LLP & Af filiates If you have any questions regarding the matters discussed in this memorandum, please contact the following attorneys or call your regular contact. Anastasia

More information

TABLE OF CONTENTS. I. Definitions:... 3

TABLE OF CONTENTS. I. Definitions:... 3 Frequently Asked Questions (version 11, 6 July 2017) concerning the Luxembourg Law of 12 July 2013 on alternative investment fund managers as well as the Commission Delegated Regulation (EU) No 231/2013

More information

Authorisation Requirements for Money Transmission Businesses. Authorisation Requirements and Standards for Money Transmission Businesses

Authorisation Requirements for Money Transmission Businesses. Authorisation Requirements and Standards for Money Transmission Businesses 2013 Authorisation Requirements for Money Transmission Businesses Authorisation Requirements and Standards for Money Transmission Businesses Authorisation Requirements and Standards for Money Tranmission

More information

AMENDMENT No. 2 TO THE DEPOSITORY SERVICES AGREEMENT No [...] April 2018 Vilnius

AMENDMENT No. 2 TO THE DEPOSITORY SERVICES AGREEMENT No [...] April 2018 Vilnius AMENDMENT No. 2 TO THE DEPOSITORY SERVICES AGREEMENT No. 2016-05 [...] April 2018 Vilnius AB SEB bankas (hereinafter referred to as the Depository), having its registered office at Gedimino Ave. 12, Vilnius,

More information

NOTICE OF. 2 SOCIAL & ETHICS COMMITTEE REPORT To receive a report by the social & ethics committee on the matters within its mandate.

NOTICE OF. 2 SOCIAL & ETHICS COMMITTEE REPORT To receive a report by the social & ethics committee on the matters within its mandate. 128 MURRAY & ROBERTS ANNUAL INTEGRATED REPORT 14 NOTICE OF Murray & Roberts Holdings Limited (Incorporated in the Republic of South Africa) (Registration number: 1948/029826/06) (JSE Share code: MUR) (ISIN:

More information

March 2011 Page 1 of 46 Issue One

March 2011 Page 1 of 46 Issue One Debt Listings Requirements March 2011 Page 1 of 46 TABLE OF CONTENT Page INTRODUCTION Objectives 4 Principles underlying this document 4 DEFINITIONS 5 SECTION 1 AUTHORITY OF THE JSE 1.1 General powers

More information

Chapter 9 Financial services. Central Securities Depository and Clearing House. Republic of Serbia

Chapter 9 Financial services. Central Securities Depository and Clearing House. Republic of Serbia Chapter 9 Financial services Central Securities Depository and Clearing House Republic of Serbia 1 Chapter 9 Financial services Overview of the Legal Structure in the EU Overview of the Legal Structure

More information

The Ministry of Finance and the Bermuda Monetary Authority CONSULTATION PAPER

The Ministry of Finance and the Bermuda Monetary Authority CONSULTATION PAPER The Ministry of Finance and the Bermuda Monetary Authority CONSULTATION PAPER Proposed Amendments to the Exchange Control Act 1972 and Exchange Control Regulations 1973 1 st February 2018 1. Bermuda has

More information

For personal use only

For personal use only Share Consolidation ASX RELEASE: 8 March 2016 ASX : TAW CORPORATE DIRECTORY Non-Executive Chairman Michael Bohm Executive Director, CFO & Co. Sec. Michael Naylor Non-Executive Director Robert Benussi CONTACT

More information

MAIN MARKET. Chapter 8 Continuing Listing Obligations CONTINUING LISTING OBLIGATIONS PART A GENERAL Introduction

MAIN MARKET. Chapter 8 Continuing Listing Obligations CONTINUING LISTING OBLIGATIONS PART A GENERAL Introduction CHAPTER 8 CONTINUING LISTING OBLIGATIONS PART A GENERAL 8.01 Introduction This Chapter sets out the continuing listing obligations that must be complied with, amongst others, by a listed issuer, its directors

More information

FINANCIAL SERVICES BOARD FINANCIAL ADVISORY AND INTERMEDIARY SERVICES ACT, 2002

FINANCIAL SERVICES BOARD FINANCIAL ADVISORY AND INTERMEDIARY SERVICES ACT, 2002 FINANCIAL SERVICES BOARD FINANCIAL ADVISORY AND INTERMEDIARY SERVICES ACT, 2002 Date: 12 July 2012 Invitation to comment on the draft amendment of the Requirements Imposed by the Financial Services Board

More information