The Association for Financial Markets in Europe (AFME) has published an updated version of its Due Diligence Questionnaire (DDQ) which aims to harmonise and simplify the process of completing questionnaires for global custodians, sub custodians and banks that hold client money.
The aim of the document, now in its third iteration, is to reduce time and resources used by market participants to complete the annual due diligence process.
The AFME Due Diligence Questionnaire Task Force, comprised of approximately twenty Network Managers, diligently reviewed submissions proposed throughout the year by market participants.
Alan Cameron (pictured), Head of Market Strategy-Brokers, at BNP Paribas Securities Services and Chair of the AFME Due Diligence Questionnaire Task Force, says: “Our thanks are due to the many throughout our industry who have contributed to the 2019 version. We are delighted that the AFME DDQ is being used so extensively. The 2019 version includes extended sections on Client Money and Corporate and Social Responsibility, as requested by many AFME members.”
