Citco announces completion of the Banking, Custody and Depositary Services SOC 1 report for the 11th consecutive year

New York, 18 November 2021 – The Citco Group of Companies (“Citco”) is pleased to announce, that for the year ended September 30, 2021, Citco Banking, Custody and Depositary Services have successfully received a SOC 1 Type #2 certification from an independent auditing firm for the 11th consecutive year. The examination in respect of the processes and controls within Citco Banking, Custody and Depositary Services resulted in the provision of an unqualified audit opinion from an independent audit firm.

The 2021 SOC 1 Type #2 Report has been prepared in accordance with the guidelines contained in the United States Statement Attestation Standards of the American Institute of Certified Public Accountants (“AICPA”) and International Standard on Assurance Engagements (“ISAE”) 3402 and its related amendments and interpretations.

The overall scope of the 2021 SOC 1 Type #2 Report covers Citco’s operations that provide Banking, Custody and Depositary services to our clients. For 2021, the independent examination consisted of an evaluation of the design and operating effectiveness of the following controls:

From a Banking, Custody and Depositary Services perspective, the examination included:

• Banking Services;
• Depositary Services;
• Client Order Placement;
• Client Trade Verification;
• Trade Document Completion;
• Settlements;
• Transfers;
• Corporate Actions;
• Securities Reconciliation;
• Cash Reconciliation;
• Static Data;
• Network Management; and
• Vault.

From an Information Technology perspective, the examination included:

• Change management;
• Backup, retention, restoration and replication;
• Logical security;
• Physical security;
• Incident management; and
• Job scheduling and system monitoring.

The completion of the SOC 1 examination demonstrates the continuing commitment of Citco Banking, Custody and Depositary Services to quality and confidentiality, as well as further demonstrates, that Citco Banking, Custody and Depositary Services continues to maintain a high level of internal control.

The Citco Group of Companies welcomes any inquiries that our clients may have with respect to the 2021 SOC 1 Type #2 Report.