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Custody Agreement – Regulatory Guide 133

Current Status

All custody agreements are required to comply with new content requirements from 1 November 2015 as set out in Regulatory Guide 133 ‘Managed investments and custodial or depository services: Holding assets’ and associated ASIC Class Orders dated November 2013 (RG 133).

RG 133 updates existing measures to:

The new measures have been staggered with the revised requirements applying from 2 January 2014 to asset holders that first hold assets or arrange for them to be held after that date. Otherwise asset holders had until 2 January 2015 to comply with the new requirements and until 1 November 2015 to ensure custody agreements with asset holders comply with the changes.

Given the above timing Responsible Entities of registered managed investment schemes, licensed custodians, managed discretionary account (MDA) operators and investor directed portfolio service (IDPS) operators have been reviewing the impact on their custody agreements with asset holders they currently engage with to ensure they meet these new content requirements.

RG 133 will apply to the following entities/structures

RG 133 is for:

When do the Content Requirements Apply?

The last remaining implementation date to comply with the new content requirements for custody agreements in RG 133 is 1 November 2015. Specifically, this implementation date applies to:

What are the RG 133 Content Requirements?

The updated RG 133 and associated ASIC Class Orders require that responsible entities, MDA operators and IDPS operators must have an agreement with any master custodian, and must ensure that this agreement and any agreement between any master custodian and any sub-custodian, address the following issues:

One Investment Group provides custodial services with an experienced and dedicated team. One Investment Group is RG133 compliant and is able to provide a wide range of services to assist in the management and safeguarding of asset portfolios. If you are seeking to appoint a custodian, please do not hesitate to contact us for further information.

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