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custody |
Also found in: Dictionary/thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia, Hutchinson | 0.31 sec. |
custody A service in which a brokerage or other financial institution holds securities on behalf of the client. This reduces the risk of the client losing his/her assets or having them stolen. They are also available to the brokerage to sell at the client's demand. Like a bank, custody provides an investor a place to store assets with little risk. Unlike a bank, custodians are not allowed to use the items in safekeeping for their own ends. Assets in custody are not fungible for the brokerage because they remain on the client's name. For this reason, these institutions normally charge custodial fees for safekeeping services. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Investigators assigned to conduct criminal investigations and custodial interrogations have the common goal of uncovering the truth. I shared the library late shift with custodial workers who routinely passed by me picking up trash, sweeping, and vacuuming. These exceptions were designed to allow banks to continue to execute securities transactions in connection with their normal trust, fiduciary, custodial, and other specified banking activities. |
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