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Custodian: Difference between revisions
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{{g}}{{a|pb|}}''You see [[custodian]]s mentioned in the context of a [[bankruptcy]], as some kind of [[insolvency administrator]]. That’s a different sort of [[custodian]] and not really what we're talking about here, which is that chap who looks after [[client asset]]s'' | {{g}}{{a|pb|}}''You see [[custodian]]s mentioned in the context of a [[bankruptcy]], as some kind of [[insolvency administrator]]. That’s a different sort of [[custodian]] and not really what we're talking about here, which is that chap who looks after [[client asset]]s'' | ||
===Generally=== | ===Generally=== | ||
*There are “[[Main custodian|main]]” or [[first level custodian|“first level” custodian]]s, who face end [[client]]s directly, and [[sub-custodian|''sub''-custodian]]s, who face [[main custodian]]s and other [[sub-custodian]]s in the [[custody chain]] but do not face end users directly. | |||
*A [[custodian]]’s main liability to its client is for the '''safekeeping''' and '''timely return''' of the [[client asset]]s. | *A [[custodian]]’s main liability to its client is for the '''safekeeping''' and '''timely return''' of the [[client asset]]s. | ||
*A [[custodian]] generally will segregate clients assets from its own assets. | *A [[custodian]] generally will segregate clients assets from its own assets. | ||