Regulation 29 - Custodians - International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2025

29. Custodians (1) A custodian shall separate and segregate its custodian activities from all other activities. (2) A custodian shall have adequate mechanisms for reviewing, monitoring and evaluating its controls, systems, procedures and safeguards. (3) A custodian shall enter into an agreement with each client detailing various circumstances relating to custody of the securities or other permitted financial products or funds. (4) A custodian shall have adequate internal controls to prevent any manipulation of records and documents, and to protect the records from theft and natural hazard.