Separate custody account requirement ensures client securities are held separately and not commingled by custodians. Every custodian must maintain a separate custody account in the name of each client for securities held in its custody, and the assets of one client must ... Summary
Separate custody account requirement ensures client securities are held separately and not commingled by custodians.
Every custodian must maintain a separate custody account in the name of each client for securities held in its custody, and the assets of one client must not be mixed with those of another, establishing a mandatory client-specific account and prohibiting commingling of client assets.
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