SCB definition
Examples of SCB in a sentence
You acknowledge and agree that by executing the Client Account Application that you have given us your prior express consent to execute all Orders on an Over The Counter (OTC) basis outside a regulated Market (as such terms are defined by SCB Rules).
Pursuant to this consent, the Subadvisor will only permit SCB LLC to effect an agency cross transaction for the Series with a non-managed account.
Under Federal law, the Subadvisor must obtain the Advisor's consent to permit SCB LLC to effect agency cross transactions for the Series, which consent is hereby granted.
An agency cross transaction is where SCB LLC purchases or sells securities from or to a non-managed account on behalf of a client's managed account.
In an agency cross transaction where SCB LLC acts as broker for the Series, SCB LLC receives commissions from both sides of the trade and there is a potentially conflicting division of loyalties and responsibilities.