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Prime brokerage agreement disclosure annex: Difference between revisions
Prime brokerage agreement disclosure annex (view source)
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{{a|cass|}}{{c|Prime | {{a|cass|}}{{c|Prime Brokerage}}The famous [[prime brokerage disclosure annex]] mandated by CASS {{cassprov|9.3}}. Note especially the second part, which refers explicitly 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|hers}}). | ||
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]]. | 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]]. | ||