The International Securities Services Association has adopted a set of Financial Crime Compliance Principles. The aim, it says, is to support the efforts of the global community of securities custodians and intermediaries to address the critical challenges posed by financial crime (he Principles can be downloaded from the ISSA website).

While financial crime compliance has risen to the top of both regulators’ and banks’ priorities in recent years, until now the focus has primarily been on cross-border payment processing and trade finance. ISSA wants to establish a clear global standard for the opening and maintenance of cross-border securities accounts, it says.

The Principles provide practical guidance to global custodians, sub-custodians, fund distributors, trustees/depositary banks, brokers, prime brokers and (International) Central Securities Depositories who intermediate cross-border securities on how to most effectively counter the risks of money laundering, terrorist financing, market abuse, corruption, fraud and the evasion of sanctions.

Northern Trust has announced a series of appointments within its global capital markets business.

BNY Mellon says it has enhanced its foreign exchange payment capabilities.

CACEIS has been appointed by the Advenis Investment Managers management company (the entity previously known as Avenir Finance Investment Managers) to provide account-keeping/custody and depositary services for its entire fund range. 

Northern Trust has appointed Douglas Gee as head of sales for its asset servicing business. It says the move is to continue to drive sales momentum for its business across Europe, Middle East and Africa (EMEA).

Northern Trust has won a mandate from Muscat Capital, the Saudi Arabia-based investment banking arm of Bank Muscat, the largest commercial bank in Oman.