Custodial Institution means any Entity that holds, as a substantial portion of its business, financial assets for the account of others. An entity holds financial assets for the account of others as a substantial portion of its business if the entity’s gross income attributable to the holding of financial assets and related financial services equals or exceeds 20 percent of the entity’s gross income during the shorter of: (i) the three-year period that ends on December 31 (or the final day of a non-calendar year accounting period) prior to the year in which the determination is being made; or (ii) the period during which the entity has been in existence.
Custodial Institution means any Entity that holds, as a substantial portion of its business, Financial Assets for the account of others. This is where the Entity’s gross income attributable to the holding of Financial Assets and related financial services equals or exceeds 20% of the Entity’s gross income during the shorter of: (i) the three-year period that ends on 31 December (or the final day of a non-calendar year accounting period) prior to the year in which the determination is being made; or (ii) the period during which the Entity has been in existence.
Custodial Institution means any Entity that holds, as a substantial portion of its business, Financial Assets for the account of others. An Entity holds Financial Assets for the account of others as a substantial portion of its business if the Entity’s gross income attributable to the holding of Financial Assets and related financial services equals or exceeds 20% of the Entity’s gross income during the shorter of:
Examples of Custodial Institution in a sentence
Where an Entity is managed by a mix of Financial Institutions, NFEs or individuals, the Entity is considered to be managed by another Entity that is a Depository Institution, a Custodial Institution, a Specified Insurance Company, or the first type of Investment Entity, if any of the managing Entities is such another Entity.
Investment Entity” (“Investment Entity managed by another Financial Institution”) is any Entity the gross income of which is primarily attributable to investing, reinvesting, or trading in Financial Assets where the Entity is managed by another Entity that is a Depository Institution, a Custodial Institution, a Specified Insurance Company, or the first type of Investment Entity.
The term "Financial Institution" means a Custodial Institution, a Depository Institution, an Investment Entity25, or a Specified Insurance Company.
Where an Entity is managed by a mix of Financial Institutions, NFEs or individuals, the Entity is considered to be managed by another Entity that is a Depository Institution, a Custodial Institution, a Specified Insurance Company, or an Investment Entity described in (a), (b), (c) or (d) above, if any of the managing Entities is such another Entity.
The term “Financial Institution” means a Custodial Institution, a Depository Institution, an Investment Entity23, or a Specified Insurance Company.
More Definitions of Custodial Institution
Custodial Institution means any Entity that holds, as a substantial portion of its business, financial assets for the account of others. An entity holds financial assets for the account of others as a substantial portion of its business if the Entity’s gross income attributable to the holding of financial assets and related financial services equals or exceeds 20 percent of the Entity’s gross income during the shorter of:
Custodial Institution means any entity that holds, as a substantial portion of its business, financial assets for the account of others;
Custodial Institution means a prison, a young offender institution, a secure training centre, a young offenders institution, a young offenders centre, a juvenile justice centre or a remand centre;
Custodial Institution means any entity that holds, as a "substantial portion" of its business, financial assets for the account of others. Custodial institutionsicnacnlude custodial banks, trust companies or brokers, in certain circumstances. An entity will hold financial assets for the account of others as a "substantial portion" of its business if its gross income attributable to the holding of financial assentds arelated financial services equals or exceeds 20 percent of its total gross income over, in general terms, a specified -3year period (or over the period that the entity has been in existence, if that is less than 3 years). The relevant three year periodThe term income attributable to holding financial assets and related financial services means custody, account maintenance, and transfer fees; commissions and fees earned from executing and pricing securities transactios;nincome earned from extending credit to customers with respect to financial assets held in custody by the entity (or acquiredthrough such extension of credit); income earned on the b-aidsk spread of financial assets; fees for providing financial advicweith respect to financial assets held in (or potentially to be held in) custody by the entity; and fees for clearance and settlement services.An execution only broker that simply executes trading instructions, or receives and transmits suchinstructionsto another executing broker, will not hold assets for the account of others and should not be a custodial institution (although it is possible that it could be an investment entity).Entities that only provide advice, do not hold, and will not hold finainalcassets; and therefore have no financial accounts should not be treated as custodial institutions. Asassets is limited to providing financial advice with respectftionancial assets held in (or to be held in) custody by the entity.
Custodial Institution. Any Entity that holds, as a substantial portion of its business, Financial Assets for the account of others. This is where the Entity’s gross income attributable to the holding of Financial Assets and related financial services equals or exceeds 20% of the Entity’s gross income during the shorter of: (i) the three-year period that ends on 31 December (or the final day of a non-calendar year accounting period) prior to the year in which the determination is being made; or (ii) the period during which the Entity has been in existence. Depository Institution - Any Entity that accepts deposits in the ordinary course of a banking or similar business. Entity - A legal person or a legal arrangement, such as a corporation, organisation, partnership, trust or foundation. This term cover s any person other than an individual (i.e. a natural person). Financial Institution - A “Custodial Institution”, a “Depository Institution”, an “Investment Entity”, or a “Specified Insurance Company”. Please see the relevant domestic guidance and the CRS for further classification definitions that apply to Financial Institutions. Investment Entity - Includes two types of Entities:
Custodial Institution means any entity that holds, as a substantial portion of its business, financial assets for the account of others and where its income attributable to the holding of financial assets and related financial services equals or exceeds twenty per cent. of its gross income during the three financial years
Custodial Institution means any of the following—