On October 10, 2014, the International Organization of Securities Commissions published a consultation paper on proposals to update and revise its 1996 Guidance on Custody Arrangements for Collective Investment Schemes. The objective of the proposals is to take into account market developments and take a closer look at the custody and protection of assets since the failure of Lehman Brothers and MF Global and the Madoff fraud. The consultation is open until December 10, 2014.

The consultation paper is available at:

http://www.iosco.org/library/pubdocs/pdf/IOSCOPD454.pdf.