Custodial services definition expanded to cover safekeeping, account maintenance, client notifications, and depository functions. The regulations define custodial services and related terms: a "custodian" carries on custodial business, a "client" contracts for those services, and a ... Summary
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Custodial services definition expanded to cover safekeeping, account maintenance, client notifications, and depository functions.
The regulations define custodial services and related terms: a "custodian" carries on custodial business, a "client" contracts for those services, and a "custody account" is the client account maintained by the custodian. Custodial services include safekeeping of securities, goods, gold and silver related instruments, and title deeds for specified funds; maintaining and reconciling client accounts; collecting benefits and rights; informing clients of issuer actions; and acting as a domestic depository for issuance-related functions. The instrument also defines "certificate" of registration, "securities", "Form" and appoints an "inspecting officer", while prescribing a context-dependent definition of "change in control" for corporates.
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