(a) the expertise and market reputation of the custodian, and once a safe custody financial instrument has been lodged by the firm with the custodian, the custodian's performance of its services to the investment firm licensee;

(b) the arrangements for holding and safeguarding financial instruments;

(c) an appropriate legal opinion as to the protection of custody assets in the event of insolvency of the custodian;

(d) current industry standard reports;

(e) whether the custodian is regulated and by whom;

(f) the capital or financial resources of the custodian;

(g) the credit rating of the custodian;

(h) any other activities undertaken by the custodian and, if relevant, any affiliated company.