Lloyd Expert Consultancy Ltd

Following a recent meeting with the regulator it was interesting to note that the regulator does see a value in an independent depositary model in the world of fund oversight.

Currently the industry mainly only offers depositary services to fund providers if they add additional services such as custody or fund accounting with only one provider happy to provide a truly stand alone independent depositary offering and that is Natwest.

Now whilst it is unlikely for the regulator to enforce that other depositaries offer there services as a standalone it is worth noting that this model in an era where funds are under constant review by 'AoV', consumer duty and the next round of thematic reviews for the fund providers it would be useful for depositaries to consider the standalone model...

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