Committee-level Communications are those letters and other documents developed by working groups of Association Committees, commonly covering technical topics in the context of urgent regulatory consultations. These communications enable streamlined attention to time-critical circumstances without requiring formal Association approval procedures.
In view of the narrow focus of these communications and the attention given to them by Association member bank experts, the Association selects to post on its website those documents that may be of general public/industry interest. As each such document notes, these communications are subject to supplemental commentary over time, including via formal Association Commentary.
The EU T+1 Industry Committee published its High-Level Roadmap on June 30, 2025. The Association of Global Custodians has supported this initiative as a member of the governing Industry Committee. Access the Roadmap here: https://bit.ly/44rU2yb.
EU T+1 Industry Committee Welcomes the Official Launch of the Governance Structure for the Transition to T+1 Settlement Cycle Press Release, January 22, 2025
Response to the ESMA Consultation Papers regarding Guidelines on Reverse Solicitation and Guidelines on the Conditions and Criteria for the Qualification of Crypto-Assets as Financial Instruments, April 29, 2024
Response to the ESMA “Consultation on Technical Advice on CSDR Penalty Mechanism”, February 29, 2024
Response to Second Consultation on the Technical Standards Specifying Certain Requirements of Markets in Crypto Assets Regulation (MiCA), December 14, 2023
AFME-AGC Joint Response to The Law Commission Public Consultation on Digital Assets, November 4, 2022
AFME-AGC Joint Response to UK Jurisdiction Taskforce Public Consultation for a Legal Statement on Digital Securities, October 31, 2022
Response to ESMA Call for Evidence on Shortening the Settlement Cycle, October 5, 2023
ESMA Call for Evidence: DLT Pilot Regime and Review of MiFIR Regulatory Technical Standards on Transparency and Reporting, March 4, 2022
European Commission Targeted Consultation on the Review of the Regulation on Improving Securities Settlement in the European Union and on Central Securities Depositories ("CSDR Review"); CSDR Review - AGC Response - Summary Extract, February 2, 2021
European Commission Public Consultation on the Review of the AIFMD - Investor Protection; Submission of the AGC European Focus Committee - Summary and Extract, January 29, 2021
Shareholder Rights Directive II Position Paper, August 4, 2020
Letter to the Financial Stability Board (FSB), regarding FSB's Discussion Paper on Regulatory and Supervisory Issues Relating to Outsourcing and Third-Party Relationships
Letter to the Assets & Residence Policy Team, HM Revenue and Customs, regarding the Fifth Money Laundering Directive and Trust Registration Service, Technical Consultation Document of January 24, 2020, February 21, 2020
Letter to the BEIS/Law Commission, regarding Intermediated Securities Call for Evidence, November 29, 2019
Letter to the HM Treasury, regarding Transportation of the Fifth Money Laundering Directive, June 10, 2019
Letter to Naerings og fiskeridepartementet, regarding Shareholders Rights Directive II (SRDII), March 29, 2019
Letter to European Commission, regarding Ares(2018)2778673 / Draft Delegated Regulation Amending Delegated Regulation (EU) No 2016/438 as Regards Safe-keeping Duties of Depositaries for UCITS Funds, and Ares (2018)2778659 / Draft Delegated Regulation Amending Delegated Regulation (EU) No 231/2013 as Regards Safe-keeping Duties of Depositaries for Alternative Investment Funds, June 26, 2018
EU Consultation on Conflict of Laws, June 30, 2017
Letter to Olga Petrenko, ESMA, regarding Clarification and Challenges for MiFID/MiFIR Transaction Reporting, June 29, 2017
Comment Communication Submitted on September 23, 2016 to ESMA, regarding Asset Segregation and Custody Services
Letter to European Securities and Markets Authority (ESMA), regarding AGC Response to ESMA's Consultation Paper on Guidelines on Participant Default Rules and Procedures Under CSDR, June 30, 2016
Consultation Paper on Regulatory Technical Standards on the CSD Regulation (“draft RTS”); The Operation of the Buy-In Process, 30 June 2015 (the “Consultation Paper”), August 6, 2015
European Securities and Markets Authority; European Banking Authority; European Insurance and Occupational Pensions Authority; Joint Committee of the European Supervisory Authorities -- regarding Draft Regulatory Technical Standards/Risk-mitigation techniques for OTC-derivative contracts not cleared by a CCP under EMIR, July 10, 2015
European Commission Green Paper, Building a Capital Markets Union (the "Green Paper"), May 13, 2015