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Recording title to safe custody assets - CASS Provision: Difference between revisions
Recording title to safe custody assets - CASS Provision (view source)
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This provision was reworked in the [[great CASS rewrite]] of 2015. Here’s what [[PS14/9]] had to say about it: | This provision was reworked in the [[great CASS rewrite]] of 2015. Here’s what [[PS14/9]] had to say about it: | ||
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===Law and Market practice outside the UK=== | ===Law and Market practice outside the UK=== | ||
“It is often the case that where a firm uses a sub custodian in a particular overseas market that recognises nominee registration, it is likely that the sub custodian will register both the firm’s own assets and any custody assets the firm held through that sub custodian in the same nominee name.” | “It is often the case that where a firm uses a sub custodian in a particular overseas market that recognises nominee registration, it is likely that the sub custodian will register both the firm’s own assets and any custody assets the firm held through that sub custodian in the same nominee name.” | ||