International Securities Expertise Centre (ISEC)
The Securities Services International Securities Expertise Centre (ISEC) is currently providing three different services to its internal stakeholders.
Network Management:
The Network Management team is responsible for the selection, performance evaluation, and expansion of ING Group's securities services provider network (e.g. sub-custodians, brokers, clearing houses). Specialists from the Network Management function perform ongoing evaluations of each provider and maintain close relations with the existing providers in their mission to ensure that a high level of service quality is delivered at a reasonable cost level. In such, the Network specialists act as a primary contact in relationship matters, account inquiries, market issues, etc.
The objectives of the Network Management function are to maximize the effectiveness of managing provider relations, to further consolidate the network of providers and consequently to maximize INGs' purchasing power.
International Securities Affairs (ISA):
The securities developments/projects change on a continuous basis. ISA itself is responsible to track these developments and signal new subjects or projects to monitor.
Qualified Intermediary (QI):
QI is responsible for the correct US tax withholding on dividends or interest paid on US securities held by ING's clients. QI is a non US Financial Institution that concluded a QI agreement with the IRS.
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ISEC Information