Refusal to grant registration halts custodian activity and requires transfer of custody and records under regulatory directions. Refusal to grant a certificate for custodian registration mandates immediate cessation of custodial activities from the date the applicant receives the refusal communication, and the entity must comply with the regulator's directions concerning transfer of records, documents and securities held or controlled in connection with its custodial functions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Refusal to grant registration halts custodian activity and requires transfer of custody and records under regulatory directions.
Refusal to grant a certificate for custodian registration mandates immediate cessation of custodial activities from the date the applicant receives the refusal communication, and the entity must comply with the regulator's directions concerning transfer of records, documents and securities held or controlled in connection with its custodial functions.
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