Segregation of custodial activities: custodial functions must be separate and personnel dedicated, subject to Board conditions. Regulation 13 requires that a custodian's activities relating to its business as custodian be separate and segregated from all other activities, and that ... Summary
Segregation of custodial activities: custodial functions must be separate and personnel dedicated, subject to Board conditions.
Regulation 13 requires that a custodian's activities relating to its business as custodian be separate and segregated from all other activities, and that officers and employees engaged in providing custodial services shall not be engaged in any other activity carried on by the custodian. A proviso allows the Board to specify conditions under which these segregation requirements shall not apply to a custodian.
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