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ACSA Awards Highlight the Value of Industry Engagement

Wednesday, 27 February 2019   (0 Comments)
Posted by: Kate Dent
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Sydney, AUSTRALIA - The Australian Custodial Services Association (ACSA) today announced the winners of its annual awards, and highlighted the value of the Association’s unique voluntary working group approach.

The 2019 ACSA Awards were presented at the Investment and Operations Conference in Sydney today by the ACSA Chair, David Knights and CEO Robert Brown.

 

2019 ACSA Award winners:

  • James Edmonds, Northern Trust

  • Roger Chan, J.P. Morgan

  • Janet Corstorphin, State Street

 

2019 ACSA Service to the Industry Award:

  • Suresh Chinnappa, NAB Asset Servicing

 

ACSA Chair, David Knights, said: “The Annual ACSA Awards are designed to highlight the outstanding voluntary efforts that the men and women of the asset servicing industry make in support of the ACSA mission. They are a public way of showing our thanks to those who go above and beyond.”

 

ACSA CEO, Robert Brown provided context for the Awards saying, “The past year has seen ACSA involved in over 40 formal interactions with regulators. Through our Working Groups we provide detailed subject matter insight and practical operational experience.

 

Mr Brown added, “James Edmonds and Janet Corstophin are both active members of the Regulatory Working Group. This team has had a particularly full agenda with input to evolution of the new Corporate Collective Investment Vehicles regime with ACSA advocating a robust approach drawn from international best practice. The Group was also instrumental in achieving positive results on anti-money laundering projects through consultation with AUSTRAC. The ACSA Tax Working Group, of which Roger Chan is co-chair, also had a busy year with focus on effective implementation of the tax reporting and withholding obligations. Tax is a highly technical area, and the ability for practitioners to engage on systemic issues provides significant value to the industry.

 

The winner of this years’ Service to Industry Award, Suresh Chinnappa, has worked in the Australian custodial sector for close to 40 years. Mr Brown said “Suresh is relied upon by many across the industry for his invaluable guidance, direction and advice. During his time in the industry, Suresh has taken a leadership role in times of change. Over his career, Suresh has been a driver of ACSA’s work on key initiatives including data consistency and definitions in support of Stronger Super reforms, the operational impact of ASX CHESS T+3 and T+2 settlement cycle changes, ASX Austraclear SWIFT automation upgrade, and the ongoing CHESS Replacement project.

 

Further to Awards, ACSA CEO, Robert Brown updated the Investment Operations Conference about the key activities the organisation has undertaken over the past 12 months. The key milestones of activity included:

  • Development of ACSA Competition in Settlement Principles, and engagement with the ASX and broader market on the challenges and opportunities presented by the ASX CHESS Replacement and blockchain technology.

  • Launch of the Managed Funds Improvement Program to tackle inefficiencies in the managed funds space.

  • Development of a framework and governance model for consultation with regulators on the continued escalation of regulatory data requirements and consequent costs to industry.

Click here to read the media release in full.


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