Glossary A B C D E F G H I J K L M
N O P Q R S T U V W X Y Z

Safeguarding Audit

A safeguarding audit is an annual audit conducted by regulator bodies to review fund segregation operations of PIs or EMIs. After the audit is completed, the institution receives a report with gap analysis and remediation plan from the regulator.

The institution is expected to provide the auditor with:

● A manual for safeguarding operations and controls
● A report documenting reconciliation processes and controls
● Statement and acknowledgement letters
● Insolvency event precautions

2020 Copyright © European Merchant Bank UAB. All rights reserved.
European Merchant Bank UAB is licensed by European Central Bank (License No. 3)
Swift BIC: EUEBLT22
Bloomberg Dealing Code: EUEB
2020 Copyright © European Merchant Bank UAB. All rights reserved.
European Merchant Bank UAB is licensed by European Central Bank (License No. 3)
Swift BIC: EUEBLT22
Bloomberg Dealing Code: EUEB