Deutsche Bank’s London-based prime brokerage platform has obtained a Type 1 SAS 70 certification.
The certification was completed by PricewaterhouseCoopers and provides an independent assessment of Deutsche Bank’s internal processes and controls.
The scope of the SAS 70 also incorporated Deutsche Bank’s asset segregation platform, Deutsche Bank Integrated Prime Custody.
SAS 70 allows service organisations to disclose their control activities and processes to their customers.
Anthony Byrne (pictured), Deutsche Bank’s co-head of European prime finance and global head of securities lending, says: “We are proud to be taking a leading position on the effectiveness and transparency of our control environment through the completion of the SAS 70. Investor and manager feedback has been extremely positive on this development. It is clearly beneficial in an environment where there is a higher level of focus on investor due diligence procedures relating to counterparty risk and asset protection."
