July 11, 1996
TO: INTERNATIONAL COMMITTEE No. 23-96
RE: FOREIGN MARKET DUE DILIGENCE SURVEY
______________________________________________________________________________
Enclosed please find a memo (and enclosures) sent to the Accounting/Treasurers
Committee requesting that the organizations represented on the Committee complete the
enclosed Foreign Market Due Diligence survey by August 2, 1996.
As you know, the survey was developed by the Securities Operations Subcommittee
and the Custodians Advisory Group and will provide valuable information on industry
practices with respect to subcustodian due diligence, broker due diligence and new market due
diligence.
Please follow-up in your respective organizations to be sure that the appropriate person
or persons has received the survey and will be completing it by the due date. Questions or
concerns may be directed to the undersigned at 202/326-5847.
Diane M. Butler
Director - Operations
& Fund Custody
Enclosure