(1) Before an
Authorised Firm holds a Safe Custody Investment with a Third Party Agent, it must undertake an assessment of that Third Party Agent and have concluded on reasonable grounds that the Third Party Agent is suitable to hold those Safe Custody Investments.
Authorised Firm must have systems and controls in place to ensure that the Third Party Agent remains suitable.
(3) When assessing the suitability of the
Third Party Agent, the Authorised Firm must ensure that the Third Party Agent will provide protections equivalent to the protections conferred in this appendix.