Nothing is more important to us than the security of your assets and information. Our business model is structured to provide the highest level of security, and it includes the segregation and delegation of certain functions to our strategic partners, such as securities dealing and settlements, cash management and custody of assets.
These functions are brought together by our wealth management platform, the Avaloq Banking Suite, which has automated interfaces with our strategic partners for trading, settlement and reconciliations, all of which feed into client portfolio administration and reporting. The Avaloq Banking Suite is monitored by our information technology and operating controls, and is subject to an annual audit by our external auditor PricewaterhouseCoopers.
Custody of your assets
If we hold your assets under one of our account types that includes a custody service, The Northern Trust Company or Ausmaq Limited holds and administers these assets on trust as our sub-custodians. Your assets are held separately to ours and those of our sub-custodians and, except to the extent you have defaulted on your own obligations as a client, you’re protected from any claims specifically against our sub-custodians or us.
Controls, compliance and monitoring
We’re regulated by the Australian Securities and Investments Commission (ASIC) and we maintain a risk and compliance management team to provide appropriate oversight across the business according to the regulatory requirements of an ASIC licence holder. Our control framework includes a comprehensive Business Continuity Management Program and Disaster Recovery Plan, and a number of advanced security controls to protect your information and data. Data protection controls include the implementation of encryption technologies, security risk assessments of third parties, intrusion prevention systems and behavioural and anomaly based monitoring solutions. Regulatory capital requirements are subject to our own internal controls and compliance and monitoring framework, with annual oversight by PricewaterhouseCoopers.