Technology firm says Association for Financial Markets in Europe due diligence questionnaire is at risk of becoming ‘simply just another questionnaire’.
Few alterations expected to be incorporated into the 2020 DDQ version in what is likely to be a welcome respite for many sub-custodian providers.
Due Diligence Questionnaire aims to harmonise and simplify the process of completing questionnaires for global custodians, sub custodians and banks that hold client money.
The Simple, Transparent and Standardised Securitisation Regulation (STS) is designed to provide an uplift to the European securitisation market, however experts argue the rules could make little difference in their current form.
Standardisation of due diligence processes is gaining traction across a variety of sectors in the financial services industry including network management.