About DATA

The Depositary and Trustee Association (DATA) was formed in 1999 and represents the industry views of depositaries of open-ended investment companies and trustees of unit trusts within the UK.

Its prime objective is to promote, support, oppose or propose changes in the relevant UK and EU legislation, in respect of the responsibilities of members of the Association and to promote and support the development of the depositary and unit trust trustee industry in the UK.   In addition, DATA undertakes to promote and support research, and to coordinate and support initiatives for the future growth of the industry.

The Association has a corporate structure with its Board of Directors forming an Executive Committee. The Directors are drawn from and represent the membership of the Association. The Association is supported by a secretariat function.

Members of the Association are: -

·        BNY Mellon Asset Servicing B.V.

·       Brown Brothers Harriman Investor Services Limited

·        Citibank International Plc

·        HSBC Trustee & Depositary Services

·        J.P. Morgan Trustee & Depositary Company Limited

·        The Royal Bank of Scotland plc

·        State Street Trustees Limited

Besides the Executive Committee – which meets monthly, there is also a Technical Committee and numerous specific sub-committees working on industry issues, supported by the Association’s Secretariat.  DATA will endeavor to represent the industry views to major regulatory and influencing bodies such as the Financial Services Authority, the UK Treasury, the Inland Revenue and the EU Commission.  The Committee also responds to industry developments, particularly concerning new regulations, market developments and market events.

The representatives of the various organisation who make up the Executive Committee share resources and responsibilities covering, for example, Capital Adequacy, Single Pricing, Anti Money Laundering and issues such as the events of September 11^th. The Committee has also reviewed the impact of N2 when the FSA was formed from the previous regulatory infrastructure of the UK financial markets and the introduction of the new Collective Investment Schemes Sourcebook.