Custodian registration criteria require suitability, infrastructure, approvals and fit and proper standards for grant of registration certificate. The Board shall, when considering grant of a certificate to act as a custodian, assess whether the applicant meets capital requirements; has necessary infrastructure (office space, vaults for physical securities, computer systems); holds requisite approvals for specified goods, bullion instruments or title deeds; employs competent personnel; and has a complete systems-and-procedures manual including arms length arrangements. The Board must also evaluate refusals/cancellations, litigation involvement, convictions, overall fitness and propriety, and whether grant is in investors' interest; only bodies corporate are eligible applicants.
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Custodian registration criteria require suitability, infrastructure, approvals and fit and proper standards for grant of registration certificate.
The Board shall, when considering grant of a certificate to act as a custodian, assess whether the applicant meets capital requirements; has necessary infrastructure (office space, vaults for physical securities, computer systems); holds requisite approvals for specified goods, bullion instruments or title deeds; employs competent personnel; and has a complete systems-and-procedures manual including arms length arrangements. The Board must also evaluate refusals/cancellations, litigation involvement, convictions, overall fitness and propriety, and whether grant is in investors' interest; only bodies corporate are eligible applicants.
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