Custodian scope expanded to include goods underlying commodity derivatives; registration and prior Board approval requirements updated for custodial services. Amendments expand the custodian framework to include goods underlying commodity derivative contracts, substitute the title and terminology from 'custodian of securities' to 'custodian,' insert a definition of goods, and modify duties to require client notification, physical safekeeping and recordkeeping for goods analogous to securities. Application and Code of Conduct forms are updated to include warehouses and vault details. Existing registered custodians may handle goods only after prior Board approval, and cross-references to the prior title or phrase are deemed to refer to the revised terminology from the date of Gazette publication.
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Custodian scope expanded to include goods underlying commodity derivatives; registration and prior Board approval requirements updated for custodial services.
Amendments expand the custodian framework to include goods underlying commodity derivative contracts, substitute the title and terminology from "custodian of securities" to "custodian," insert a definition of goods, and modify duties to require client notification, physical safekeeping and recordkeeping for goods analogous to securities. Application and Code of Conduct forms are updated to include warehouses and vault details. Existing registered custodians may handle goods only after prior Board approval, and cross-references to the prior title or phrase are deemed to refer to the revised terminology from the date of Gazette publication.
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