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Authorised signatory lists: Difference between revisions
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{{tag| | {{tag|Broker}}s, {{tag|custodian}}s and other {{tag|service provider}}s in the financial markets are often sent "authorised signatory lists" by their clients of personnel who are permitted by the client to submit instructions, orders, and so on. Usually these are couched with a warning: | ||
{{box|We shall not be liable for any instructions unless given by authorised signatories as set out in schedule A, as amended from time to time."}} | {{box|We shall not be liable for any instructions unless given by authorised signatories as set out in schedule A, as amended from time to time."}} | ||
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Now this might seem a sensible measure, from the client's perspective, but brokers generally hate it, and with good reason. For what it really amounts to is the client's admission that it doesn't trust, or can't control, its own employees. | Now this might seem a sensible measure, from the client's perspective, but brokers generally hate it, and with good reason. For what it really amounts to is the client's admission that it doesn't trust, or can't control, its own employees. | ||
As such, brokers routinely | As such, brokers routinely refuse to be bound by these lists. If you're confronted with one, here's a ready made explanation of why it won't do: | ||
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