Prime brokerage agreement disclosure annex: Difference between revisions
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The famous [[prime brokerage disclosure annex]] mandated by CASS {{cassprov|9.3}}. Note especially the second part, which refers explicity to the [[CF10a]]’s personal responsibility for making sure everything is tickety-boo. Which will mean your local [[CF10a]] might be inclined, almost imperceptibly, to obsess madly about your catalogue of [[prime brokerage disclosure annexe]]s at every waking moment (yours or {{sex|his}}). | The famous [[prime brokerage disclosure annex]] mandated by CASS {{cassprov|9.3}}. Note especially the second part, which refers explicity to the [[CF10a]]’s personal responsibility for making sure everything is tickety-boo. Which will mean your local [[CF10a]] might be inclined, almost imperceptibly, to obsess madly about your catalogue of [[prime brokerage disclosure annexe]]s at every waking moment (yours or {{sex|his}}). | ||
Strictly speaking, one only needs a [[PBDA]] if one is [[Reuse|reusing]] or (as our American friends like to say, “[[Rehypothecation|rehypothecating]]” [[client assets]]. If you don’t [[reuse]] custody assets — that is, you have no right to transfer them to your own account for your own nefarious purposes<ref>not really nefarious, obviously</ref>, you don't need to provide your client with a [[PBDA]]. | |||
The rule you can see in original here: {{handbook|CASS|9|3}} | |||
If that’s a click too far, here’s a summary: | |||
{{Nuts|CASS|9.3}} | {{Nuts|CASS|9.3}} | ||
And | And here’s the whole thing (but check the original just in case it has been updated): | ||
{{casssnap|9.3}} | {{casssnap|9.3}} | ||
{{cassanatomy}} | {{cassanatomy}} |