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AFSL C1 Proof – Custodial/Depository Service Statement



This template is a C1 proof which includes details of the custodial or depository services your business intends to provide and an explanation with respect to your pro forma or standard agreement used to cover the custodial or depository services your business will provide.

This proof also includes a description of:

  • how your clients will authorise transactions your business performs on their behalf;
  • systems, including service-specific accounting, computing and operating systems, and how your business will monitor and maintain these systems;
  • how your business will identify and determine the status of investments it holds;
  • how your business will manage access to and security of client accounts;
  • how your business will market its products/services in the market place;
  • copies of agreements with service providers undertaking transactional, custodial or sub-custodial functions on your business’ behalf; and
  • how you meet the definition of ‘incidental provider’.

This template has been developed to meet the standards required in Section 912AC of the Corporations Act and outlined in ASIC Regulatory Guide 3 and 166.

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