Prime brokerage agreement disclosure annex

From The Jolly Contrarian
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The famous prime brokerage disclosure annex mandated by CASS 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 annexes at every waking moment (yours or his).

Here's a summary:


9.3 in a Nutshell (CASS edition)

Template:Nutshell CASS 9.3

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And here's the whole thing:


Template:CASS Section 9.3

But check the original souce: CASS Chapter 9

Discussion

Note strictly speaking you only need a PBDA if you are rehypothecating client assets. If you don't custody assets, or you have no right to transfer them, you don't need to supply an annex.

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