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.
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.
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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