On February 23, 2005, «First Sino Bank» Co., Ltd is the first bank in China pursuant to the newly in force “Measures on Administration of Custodian Qualification of Securities Investment Fund” to gain such qualification and certified by China Securities Regulatory Commission and China Banking Regulatory Commission. This paves the ground for «First Sino Bank» to increase product offering and gain competitive edge in intermediary services.
Technical-Backed by a matured, forward-looking and state-of-the-art system both in structural design and equipment devices; “Decouple”- no physical connection between office network and service network to enable the security and independence of the asset under custody; Disaster Recovery – Advanced framework and technology used at the bottom layer to allow access from remote browser. Backup center separated located from the production system.
True, complete and accurate accounting and audit on the asset under custody. Identify the fair value and the net value of the assets under custody, as required by laws, rules, regulations and contracts. Prepare balance sheet and other financial reports on the assets under custody, as required by the principal
Funds held in «First Sino Bank» custody are managed under a scheme of check and balance where the operation of front office and back office are separated. Risk control is clearly defined in each job role. Besides intensive training and enforcement of ethical behavior among employees, 27 internal control chapters are laid down for best practice of risk aversion and bring this «First Sino Bank» custody service under regulatory oversight since it was started.
Customer Focus driven by Trust & Due Diligence” Complete accounting audit Clearing & Settlement – Fast, Safe, Accurate Full monitoring on each transaction Strict Management, Internal Control, Risk Prevention