Claims & Compensation Working Group

Key Contacts

Executive Sponsors:

• Dana Martz
  Professional Management Associates
• Jason Cronin
  Wellington Management Co., LLP

Chairs:

• Michael McRoberts
  State Street (Custodian)
• William Schrader
  BlackRock, Inc.

Mission Statement

The mission of the North America Claims and Compensation Working Group is to focus on claims, charges and losses caused by failed financial transactions (securities trades, payments, foreign exchange,...) as a result of errors made by parties to these transactions, or by their agents. The objective is to provide our industry with a set of recommendations and best practices that participants can agree to implement voluntarily with each other in any context (such as the cross-border market) where no other compensation practices prevail by the force of regulation and law.