JSDA Announces That Sub-Custodians Are Now Allowed To Obtain JGB Beneficial Owner Information Directly From QFIs

The Japan Securities Dealers' Association (JSDA) announces that sub custodians will now be able to communicate directly with Qualified Financial Intermediaries (QFI) with regard to records of beneficial owners of Japanese Government Bonds (JGBs). Previously, sub custodians could only obtain

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The Japan Securities Dealers’ Association (JSDA) announces that sub-custodians will now be able to communicate directly with Qualified Financial Intermediaries (QFI) with regard to records of beneficial owners of Japanese Government Bonds (JGBs).

Previously, sub-custodians could only obtain the records from QFIs (usually global custodians) through a “Foreign Indirect Participant” (usually an ICSD) in cases where a financial institution with QFI status has to hold JGBs through another entity. As can be seen below, the rule change has opened up another, more direct communication route, as it also allows sub-custodians to log in to the websites of QFIs and check information on beneficial owners of JGBs.

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