Introduction to Custody Services

Course Provider
Dates Duration	TBC  1 Day
Venue	TBC
Course Fees	Full Fee: €400 Network Members Fee: €250
CPD Hours	6 CPD Hours

AIM AND APPROACH
This programme aims to give delegates an appreciation for the international fund scene in Ireland.  Topics covered range from legal structures, the participants, their functions to the regulations governing both UCITS and non-UCITS vehicles.   It also covers the ongoing responsibilities involved in listing the fund on the Irish Stock Exchange

PROGRAMME OBJECTIVES 

Following the programme participants will be able to:

• Identify the main functions of a Custodian
• Detail the services provided by a Custodian
• Understand the documentation required
• Differentiate between a global and domestic custodian
• Understand the settlements process and associated terminology
• Understand the difference between the types of accounts and types of securities held
• Understand basic corporate actions
• Understand the basic concepts & processes of stock-lending
• Detail the standard reporting requirements

AUDIENCE

The programme is intended for anyone who works in the Funds Industry, who works in providing custody or safe-keeping services to clients. 

AGENDA

• Introduction to Custody services
  o Safe-keeping depositary services
  o Settlement of trades
  o Cash management
  o Corporate actions & proxy voting
  o Stock-lending
• Global custodian vs Domestic custodian
  o Availability of services
• Appointment of a Custodian
  o Documentation
  o Authorisation & supervision in Ireland
  o Agreements required
  o Format of ‘proper instructions’
• Settlement cycle
  o Deadlines
  o Central Securities Depositaries and ICSDs
  o The Registration process
  o Why trades fail
  o Consequences of failed trades
  o Interest claims – the process
• Types of accounts held
  o Cash and Securities
  o Dematerialised securities
  o Omnibus and Segregated accounts
  o Implications for costs
• Corporate actions
  o Dividends
  o Rights issues
  o Bonus issues
  o Splits and Consolidations
  o Take-overs and Mergers
  o Proxy voting
• Stock-lending
  o Growth of industry
  o How the process works
  o How custodian fits in
  o Services offered
• Tax reclaims
  o Withholding tax
  o Forms required
• Reporting requirements
  o Types and frequency of issue
  o To clients
  o To regulators
  

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