AFME publishes revised DDQ 28 November 2018London Reporter: Becky Butcher
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The Association for Financial Markets in Europe (AFME) has published an updated version of its due diligence questionnaire (DDQ).
The new version includes extended sections on client money and corporate and social responsibility, as requested by many AFME members.
Now its third iteration, the DDQ harmonises and simplifies the process of completing questionnaires for global custodians, sub-custodians and banks that hold client money.
It aims to reduce the time and resources used by market participants to complete the annual due diligence process.
The AFME DDQ task force, which included around 20 network managers, reviewed submissions proposed throughout the year by market participants.
Alan Cameron, head of market strategy-brokers, at BNP Paribas Securities Services and chair of the AFME DDQ task force, commented: “Our thanks are due to the many throughout our industry who have contributed to the 2019 version. We are delighted that the AFME DDQ is being used so extensively.”
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