The Directive stipulates that a depositary is required to maintain a record of all cash transactions of the fund and ensure that all cash is held in appropriate accounts and adequately reconciled.

As the Depositary, we will:

  • obtain cash transaction data directly from existing banks through “read only” access without the need to change current banking relationships
  • reconcile cash movements at a frequency consistent with the client’s existing reconciliation procedures
  • perform a daily check to identify any significant cash flows and ensure these are consistent with the fund’s operations
  • ​investigate any anomalies identified in a responsive manner with the client.

 

Heritage Depositary Company (UK) Limited is an affiliate member of DATA

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