The lawsuits also allege that Fidelity was a fiduciary due to its practice of pooling client investments before collectively investing them in so-called
omnibus accounts. The complaints allege that Fidelity maintains a single
omnibus account to process trades and maintain positions that are, in turn, divided into accumulation units that replicate the performance of the mutual fund and reflect the interests held by the plans.
and time to divide
Omnibus Accounts will be from 1:30 p.m.
It originates and services private education loans and also offers retail deposit accounts and high yield savings accounts;
omnibus accounts; and a consumer savings network.
The SEC charged that the advisor used
omnibus accounts and allocated trades at the end of the trading day.
(6)
Omnibus accounts are customer segregated accounts held at an FCM and include the commingled funds (cash, assets, and/or securities) of all customers of a particular FCM.
This is in contrast to securities lodged in so-called "
omnibus accounts," which would aggregate the holdings of all investors but without segregating the holdings of one investor from another.
He gave some specific examples of transactions that are too often opaque, such as so-called
omnibus accounts, which combine various securities transactions.
Indicating the advent of derivatives, efforts are now afoot to introduce
omnibus accounts, which are expected to come once the central counterparty (CCP) is in place during the exchange's second phase of development.
The London affiliate utilized code names to disguise the identities of the sanctioned entities and maintained sub-accounts in these code names in its
omnibus accounts maintained in the US.
One remaining issue relates to
omnibus accounts. The Greek exchange requires data on the final investor-owner of shares, while FTSE's clients desire information that stops at the level of broker.
It originates and services private education loans to students or their families; offers retail deposit accounts;
omnibus accounts; and a consumer savings network.
These failures, FINRA continued, "extended to potentially suspicious trades made in
omnibus accounts of the firm's foreign affiliates.
