Principals Would Improve Asset Safekeeping

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    Global securities regulators are considering a new set of principles designed to ensure the safekeeping of client assets. The International Organization of Securities Commissions (IOSCO) is proposing principles to govern the custody of assets held in ‘collective investment schemes’ (CIS), such as investment funds. It is seeking feedback from investment managers, custodians, institutional investors, and others on developing a set of principles to ensure the segregation and protection of client assets in the wake of market events such as the failure of Lehman Brothers and the Madoff fraud.