Custody of Investments. Acceptance of these terms confirms the appointment of PSIL as your custodian and provides authority for PSIL to hold your investment in safe custody, to transfer securities from your account to meet sales affected for your account, acceptance of offers, or other matters covered by our services and these terms and the Pershing Agreement. You acknowledge that PSIL does not accept responsibility for, or have any obligations in relation to, any monies or securities delivered by you until such monies or securities are received by PSIL or delivered into an account in the name of PSIL, its nominee or its agent. You consent that your investments will not be registered in your own name. Documents of title to your investments shall be held in physical or dematerialised form by PSIL or an Eligible Third Party. Your investments will be held in a safe custody account designated as a client asset account and will be registered either in the name of an eligible nominee company or eligible custodian selected by PSIL in accordance with the CBOI Client Assets Regulations. PSIL will exercise due skill, care and diligence in the selection, appointment and periodic review of any Eligible Third Party and the arrangements for holding and safekeeping of your investments. In exercising such due skill and care, PSIL undertakes an initial due diligence of such Eligible Third Parties which is then repeated on an annual basis. Such due diligence includes, but is not limited to, credit risk review, the review of the legal and regulatory framework in the country where such Eligible Third Party is appointed to act for PSIL and a review of the service provided to PSIL. Notwithstanding the foregoing, PSIL shall not be responsible for any acts, omissions or default of any such Eligible Third Party nominee company, custodian, sub- custodian, securities depositary, intermediate broker or settlement agent, clearing or settlement system or participant in such a system (other than an associate of PSIL) save where such a default is caused by fraud, wilful default, or negligence on the part of PSIL or its nominee company. PSIL may use the services of any custodian, securities depository, clearing or settlement system, any participant in such a system or any associate of PSIL, (each an “Third Party Custody Providers”) to provide custody services in relation to your investments. PSIL may also appoint sub-custodians (including sub-custodians overseas) being eligible custodians, to hold investments fo...
Custody of Investments. 4.1) You authorise Us to arrange for title to Client Assets to be registered or recorded in the name of: i) You (the Client), ii) a UK nominee company controlled by Us; an affiliated company of Us or; a third party with whom financial instruments are deposited; as bare trustee for each Client, or iii) We or one or more sub-custodians chosen by Us, provided We or the sub-custodian are prevented from registering or recording legal title as set out in i) or ii).
4.2) Client Assets will be held in omnibus accounts and be registered collectively in the same name for all Clients and therefore the individual entitlements of each Client may not be identifiable by separate certificates or other physical documents of title. If We were to become insolvent, any shortfall in securities so registered would be shared pro rata among the Clients concerned.
4.3) Where instructed to do so, or where We consider it to be in Your best interests to do so, We mayarrangefor athird partytoprovidecustodyand/ orsettlementservicesinrelationtocertainClient Assets. Where the third party is an Affiliate of Us, Wewillberesponsible for theserviceprovided by the third party to the same extent as if the service had been provided by Us.
4.4) Where services are provided by a third party which is not an Affiliate of Us, We will exercise reasonable care and due diligence in selecting themand monitoring their performance, but do not guarantee proper performance by the third party and We will not be responsible if the third party fails to meet its obligations. This means that if the third party defaults or becomes insolvent, You may lose some orallofYourassetsandwillnotnecessarilybe entitled to compensation from Us. Including, in circumstances where it is not possible under the relevant national law and the registration under clause 4.1 to identify the Client Assets from the proprietary assets of the third-party firm. We will inform You and provide further details if a third party is to be used in this way.
4.7) Where We provide services in respect of Securities which are held by a third party in, or which are subject to the law or market practice of, a country outside the United Kingdom, the settlement, legal and regulatory requirements in the relevant overseas jurisdiction may be different from those in the United Kingdom and there may be different practices for the separate identification of securities. We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to ...
Custody of Investments. Acceptance of these terms provides authority for PSIL to hold your investment in safe custody, to transfer securities from your account to meet sales effected for your account, acceptance of offers, or other matters covered by our services and these terms and the Pershing Agreement. Where you have elected to use the safe custody services of PSIL, you consent that your investments will not be registered in your own name. Documents of title to your investments shall be held in physical or dematerialised form by PSIL or an Eligible Third Party. Your investments will be held in a safe custody account designated as a client asset account and will be registered either in the name of a nominee company owned by PSIL, a member of PSIL’s group, an exchange which is a regulated market, or an Eligible Third Party, in accordance with the CBOI Client Assets Requirements. PSIL will exercise due skill, care and diligence in the selection, appointment and periodic review of any Eligible Third Party and the arrangements for holding and safekeeping of your investments, but PSIL shall not be responsible for any acts, omissions or default of any such Eligible Third Party save where such a default is caused by fraud, wilful default or negligence on the part of PSIL or its nominee company. Although PSIL will seek to ensure that adequate arrangements are made to safeguard your ownership rights, especially in the event of its own insolvency, your investments may be at risk if an Eligible Third Party becomes insolvent. Xxxxxx does not accept liability or responsibility for the acts or omissions of the custodians or for the safe custody obligations of any third party (including any Eligible Third Party).
Custody of Investments. The Trustee shall be responsible for the safe custody of the Deposited Property. Any Authorised Investments forming part of the Deposited Property shall, whether in bearer or registered form, be paid or transferred to or to the order of the Trustee forthwith on receipt by the Manager and be dealt with as the Trustee may think proper for the purpose of providing for the safe custody thereof. The Trustee may act as custodian itself or may appoint such persons (including any Related Party of the Trustee) as custodian or joint custodians (with the Trustee if acting as custodian or with any other custodian appointed by the Trustee) of the whole or any part of the Deposited Property and (where the Trustee is custodian) may appoint or (where the Trustee appoints a custodian) may empower such custodian or (as the case may be) joint custodian to appoint with prior consent in writing of the Trustee, sub-custodians. The fees and expenses of any such custodian, joint custodian or sub-custodian shall be borne out of the Deposited Property. The Trustee may at any time procure that:
18.1.1 the Trustee;
18.1.2 any officer of the Trustee jointly with the Trustee;
18.1.3 any nominee appointed by the Trustee;
18.1.4 any such nominee and the Trustee;
18.1.5 any custodian, joint-custodian or sub-custodian appointed by the Trustee;
18.1.6 any company operating a depository or recognised clearing system in respect of the Deposited Property; or
18.1.7 any broker, financial institution or other person with whom the same is deposited in order to satisfy any requirement to deposit margin or security,
(i) the Trustee shall not incur any liability in respect of or be responsible for losses incurred through the insolvency of or any act or omission of any depository or clearing system with which Authorised Investments may be deposited or any broker, financial institution or other person with whom Authorised Investments are deposited in order to satisfy any margin requirement;
(ii) the Trustee shall not incur any liability in respect of or be responsible for losses incurred through the insolvency of or any act or omission of any nominee, custodian, joint custodian or sub-custodian appointed by the Trustee except where the Trustee has failed to exercise reasonable care in the selection and appointment of such appointee (having regard to the market in which the relevant appointee is located) or the Trustee is in wilful default; and
(iii) the Trustee shall not incur any liability in respect...
Custody of Investments. 11.1. Where you purchase Investment Products which are required to be held with a custodian (“Custody Assets”), you agree that we will arrange for a custodian to be appointed to safeguard and administer the Custody Assets and to otherwise act as custodian of the Custody Assets. We shall not be liable or responsible for any act or omission of any Custodian or Sub- custodian or any of their personnel or agents in connection with the Investments in their custody.
11.2. Unless and until we receive an instruction to the contrary, we shall (and shall procure that each relevant Custodian and/or Sub-Custodian shall):
a. (to the extent that we, the Custodian or the Sub- Custodian have actual notice of the relevant event) present for payment any Investments which are called, redeemed or retired or otherwise become payable and all coupons and other income items which become payable for your account, and transfer the cash received to the Account; hold for your account all Investments, scrip dividends, rights and similar securities issued with respect to any Investments held pursuant to these Terms,
b. receive and collect all dividend, interest and other payments or distributions of income in respect of the Investments, and transfer the cash received to the Account;
c. exchange interim receipts or temporary securities for definitive securities;
d. where moneys are payable in respect of any of the Investments in more than one currency, collect them in such currency or currencies as may be permissible by law as we may in our discretion determine; and
e. complete and deliver on your behalf as beneficial owner any ownership certificates in connection with the Investments as may be required by applicable law or regulation.
11.3. We shall use all reasonable endeavours to make available to you, on request, all annual and bi-annual reports and accounts produced by the issuers of Investments held on your behalf pursuant to these Terms and shall procure that all notices or circulars issued by such persons and received by a Custodian in relation to your Investments are delivered to you.
11.4. We will, and shall use all reasonable endeavours to procure that the Custodian will:
a. exercise any proxy, voting and other rights arising out of individual Investments only in the manner determined by and instructed by you in writing from time to time;
b. in the absence of specific written instructions from you as to the matters specified in (a) above, either exercise the same in the manne...
Custody of Investments. 5.1 Where SEI provides custody services directly, it will arrange for title to Customer Assets to be registered or recorded in the name of a UK nominee company controlled by SEI as bare trustee for each Customer. Customer Assets will be registered collectively in the same name for all Customers and therefore the individual entitlements of each Customer may not be identifiable by separate certificates or other physical documents of title. If SEI were to become insolvent, any shortfall in securities so registered would be shared pro rata among the Customers concerned.
5.2 Where instructed to do so, or where SEI considers it in the best interests of the Customer to do so, SEI may arrange for a third party to provide custody and/or settlement services in relation to certain Customer Assets. Where the third party is an Affiliate of SEI, SEI will be responsible for the service provided by the third party to the same extent as if the service had been provided by SEI itself.
5.3 Where services are provided by a third party which is not an Affiliate of SEI, SEI will exercise reasonable care and due diligence in selecting them and monitoring their performance, but does not guarantee proper performance by the third party and will not itself be responsible if the third party fails to meet its obligations. This means that if the third party defaults or becomes insolvent, the Customer may lose some or all of their assets and will not necessarily be entitled to compensation from SEI. The Intermediary will inform the Customer and provide further details if a third party is to be used in this way.
5.4 Where SEI provides services in respect of securities which are held by a third party in, or which are subject to the law or market practice of, a country outside the United Kingdom, the settlement, legal and regulatory requirements in the relevant overseas jurisdiction may be different from those in the United Kingdom and there may be different practices for the separate identification of securities.
5.5 Where an amount is due from the Customer to SEI under or in connection with these Terms, SEI may suspend transactions in Customer Assets which it holds for that Customer and, where SEI considers it necessary to do so in order to protect its own interests, SEI may sell some or all of those Customer Assets and apply the proceeds to pay the outstanding amount.
Custody of Investments. 9.1 The Manager shall appoint an Authorised Person permitted to do so under FSMA (who may be an associate of the Manager) to act as custodian of the Partnership’s Investments (“Custodian”).
9.2 The appointment of the Custodian shall be made in accordance with the FCA Handbook, on such terms as the Manager thinks appropriate (which may include granting the Custodian power to appoint a sub-custodian).
9.3 The Manager shall be entitled to terminate the appointment of the Custodian at any time in accordance with the terms of any agreement with the Custodian in which case the Manager may appoint a replacement Custodian in accordance with Clause 9.2.
Custody of Investments. All Investments of the Customer held by Mainspring will be recorded in an Investment Account for the Customer. The title of the Investment Account shall indicate that the Investments do not belong to Mainspring.
Custody of Investments. BlackRock as Custodian
Custody of Investments. Sub-Custodians and Securities Systems
