IOSCO has published its final report on  standards for the custody of collective investment scheme assets. The report aims to clarify, modernise and further develop standards for the custody of CIS assets, consistent with the core IOSCO Objectives and Principles of Securities Regulation, which were published in June 2010. The report sets out eight standards divided into two sections aimed at identifying the core issues that should be kept under review by the regulatory framework to ensure investors' assets are effectively protected. The report also identifies some of the key risks associated with the custody of CIS assets, such as operational risk, misuse of CIS assets, risk of fraud or theft, and IT risk.