ISSA updates financial crime principles

The International Securities Services Association (ISSA) has updated its financial crime compliance principles for securities custody and settlement. The principles focus on governance and control, due diligence and third party client business.  It has produced draft contractual terms, available to members, to support implementation of the principles, and a questionnaire to provide custodians with help in performing due diligence on their account holders. It plans to fully update the principles next year, and hopes they will have been fully adopted by 2019.