Custody definition

Custody means holding, directly or indirectly, client funds or securities, having any authority to obtain possession of client funds or securities, or having the ability to appropriate client funds or securities. The investment adviser has custody if a related person holds, directly or indirectly, client funds or securities, or has any authority to obtain possession of them, in connection with advisory services the investment adviser provides to clients.

Examples of Custody in a sentence

  • This Agreement constitutes the entire agreement between the Fund and BNY as a foreign custody manager, and no provision in the Custody Agreement between the Fund and the Custodian shall affect the duties and obligations of BNY hereunder, nor shall any provision in this Agreement affect the duties or obligations of the Custodian under the Custody Agreement.


More Definitions of Custody

Custody means involuntary detention under the provisions of this chapter or chapter 10.77 RCW, uninterrupted by any period of unconditional release from commitment from a facility providing involuntary care and treatment;
Custody means holding, directly or indirectly, client funds or securities, or having any authority to obtain possession of them or having the ability to appropriate them.
Custody with regard to the division, means the custody of a minor in the
Custody with regard to the division, means the custody of a minor in the division as of the date of disposition.
Custody means holding, directly or indirectly, client funds or securities, or having any authority to obtain possession of them. Custody includes:
Custody means joint legal custody, sole legal