EIOPA · 63
63
- Regulation
- Guidelines on submission of information to NCAs (Preparatory phase)
- Article
- 35
- Submitted
- 2014-05-05
- Answered
- 2019-10-28
Question
The Log for field A12 Country of Custody provides guidance on 'international custodians' indicating that the return should be the country corresponding to the legal establishment where the custody service was contractually defined.
Can you confirm whether the same guidance applies in the case of global custodians or is the requirement to return the sub-custodial location even though there is a legal contract at the global custodian level.
Answer
We don’t intend to distinguish between “global custodians” and “international custodians”, as our purpose is to cover custodians which act in more than one country. That being said, we would expect that even for global/international custodians, there must be a country where the contract is underwritten, and that is the country to be reported in the referred cell.
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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