Custodian

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Custodian

Either (1) a bank, agent, trust company, or other organization responsible for safeguarding financial assets, or (2) the individual who oversees the mutual fund assets of a minor's custodial account.

Custodian

A brokerage or other financial institution that holds and manages a client's securities or other assets on his/her behalf. 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, a custodian provides an investor a place to store assets with little risk. Brokerages normally require a fee for custodial services. See also: Safekeeping.

custodian

An organization, typically a commercial bank, that holds in custody and safekeeping someone else's assets. These assets may be cash, securities, or virtually anything of value.

Custodian.

A custodian is legally responsible for ensuring that an item or person is safe and secure. In investment terms, a custodian is the financial services company that maintains electronic records of financial assets or has physical possession of specific securities.

The custodian's client may be another institution, such as a mutual fund, a corporation, or an individual. For example, with an individual retirement account (IRA), the custodian is the bank, brokerage firm, or other financial services company that holds your account.

Similarly, the Depository Trust Company, a subsidiary of the Depository Trust and Clearing Corporation (DTCC), is the custodian of millions of stock certificates held in its vaults.

References in periodicals archive ?
Al-Ghabin appeared on Israel's i24 News last month and said that the custodianship of the al-Aqsa mosque should be transferred to Saudi Arabia.
Zayyani stressed Rabat's unaltered stance towards Palestine and the Hashemite Custodianship, rejecting all types of compromise for 'these unchangeable positions'.
A state statute formally recognizing that Colin could exit the state system through an Indian custodianship created through the Tribal law or custom of Colin's Tribe would allow Colin and his family to have permanency and for OCS to close their case and spend more time with families that actively need assistance.
Describing the current situation as "an unknown curtain that has left its shadow on the entire region," Madanat called for support to King Abdullah II with the Hashemite custodianship of Jerusalem's holy places.
The sequestrations issued due to Araneta's alleged involvement with Marcos' ill-gotten wealth have been judged to be improvident and can no longer justify further PCGG custodianship.
1981: Picasso's anti-war mural Guernica returned to Spain after 40 years custodianship in the US.
NNA - Lebanese Forces party leader Samir Geagea tackled, in an interview with Al-Najwa Al-Masira magazine, the latest developments in Lebanon and the region, 13 years after his release on July 26, 2005, saying that "the great prison in which Lebanon was long kept has fallen, and the custodianship era is gone to no return."
Qureshi was the foreign minister between 2008-2011 when he left and joined PTI.Hazrat Ghous Bahauddin Zakariya's shrine in Multan is under his custodianship as well.
As per norms, fund custodian departments must possess at least eight qualified professional staff to engage in fund settlement, investment monitoring, information disclosure and internal inspection and control operations, while key staff responsible for monitoring and other core operations must possess two years of experience with fund custodianship.
Carron Valley Community Council has been critical of Stirling University's custodianship of the Howietoun Fishery and Milnholm Hatchery in recent weeks.
A total of 62 barangays and 12 agencies in the different municipalities and city received the custodianship of the Information Technology (IT) equipment that included Mahayahay Elementary School, Bangayan Elementary School and Kitcharao DepEd District, all of the municipality of Kitcharao; Soriano Elementary School, Puting Bato Elementary School, MTCC-Cabadbaran City and Provincial Highway Patrol Team, all of Cabadbaran City; Carmen Municipal Police Station in the municipality of Carmen; Nasipit National High School-Main and Triangulo Elementary School in the municipality of Nasipit; Jabonga Police Station in the municipality of Jabonga; and Municipal Circuit Trial Court of Tubay-Santiago in the municipality of Santiago.
Summary: Woman replaces father's custodianship as he wanted to prevent her marriage to socially unsuitable man