custody

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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.

custody

A safekeeping service that a financial institution provides for a customer's securities. For a fee, the institution collects dividends, interest, and proceeds from security sales and disburses funds according to the customer's written instructions.
References in periodicals archive ?
But the PNP leadership has earlier repeatedly refused to have more high-profile personalities detained at the Custodial Center over congestion issue.
Generally, under the proposed regulations, where the custodial parent has already filed a return claiming the dependency exemption and/or child tax credit, the noncustodial parent must attach the executed form or declaration to an original timely filed (including extensions) return for the same tax year.
Mitch Dufresne, the acting director of the Rule of Law and Security Institutions Group of the United Nations Assistance Mission in Somalia, encouraged members of the female custodial corps to network and set goals that would enable them to assume decision-making roles at work.
David Cole, 28, of Malt Street, Edge Hill 2 x CTPTCOJ - 8-month custodial.
Unless they address their offending behaviour criminals can expect to serve their entire custodial term in prison.
With no improvement in the children's attendance, and a fresh prosecution for the same offence in June 2012, the magistrates awarded a custodial sentence of nine weeks, stating this was "the worst case of school non-attendance they had heard".
Dudley saw the biggest reduction in the West Midlands with the number of children being given a custodial sentence falling from 37 to 15, a 59 per cent drop.
For the past three decades, as more and more families have two working parents or are run by a single working parent, the custodial aspect of schools has, in some ways, eclipsed their educational function.
In the case of a child with special needs, however, state statutes or case law may continue the support obligation of both the custodial and non-custodial parent for the lifetime of the child.
With Michigan's public school districts facing a decline in per-pupil funding, more districts are contracting out for at least one of the three major school support services--food, custodial and transportation--than ever before.
JUDGES and magistrates are giving young offenders custodial sentences at more than three times the rate recommended by experts, according to new figures.
The custodial or judicial deaths are quite common in all countries and there is no need for BBC or anybody else to bring only India under the microscope.