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Custodian: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "===Generally=== *A custodian’s main liability to its client is for the '''safekeeping''' and '''timely return''' of the client’s assets. *A custodian generally will segreg...") |
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**The Custodian has no economic exposure to the custody assets. | **The Custodian has no economic exposure to the custody assets. | ||
===Appointment of [[ | ===Appointment of [[sub-custodians]]=== | ||
*Where a | *Where a custodian does not have a physical presence in a local market, it will appoint a sub-custodian in that market to hold client assets on its behalf. | ||
*Generally the custodian will require the [[sub-custodian]] to hold assets on the same terms that the custodian does – i.e. | *Generally the custodian will require the [[sub-custodian]] to hold assets on the same terms that the custodian does – i.e. | ||
**Segregated in the sub-custodian’s records from the sub-custodian’s (and the custodian’s) own assets | **Segregated in the sub-custodian’s records from the sub-custodian’s (and the custodian’s) own assets | ||