21 September 2015

ISSA commissioned Study on the Benefits and Costs of Securities Accounting Systems

In conjunction with ISSA’s work on Financial Crime Compliance Principles, ISSA commissioned Coventry University via the Swift Institute to undertake research on the Benefits and Costs of Securities Accounting Systems.

The Study concludes that omnibus and segregated accounting systems as well as hybrid systems that bridge the two offer benefits to their respective users as well as disadvantages. The research reveals that it has not been demonstrated conclusively that -absent robust anti-money laundering and sanctions screening on the part of financial institutions – either the omnibus account or segregated account or a hybrid version thereof is no longer fit for purpose. To some extent, the conclusions are supported by a survey conducted among the ISSA membership in the course of the second quarter 2015.

The research was conducted by Professor Stuart Weinstein and Dr. Sina Yekini.

You can download the ISSA paper here.

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