The deposits shall remain in force for their full primary term, as shall all obligations under the custodian/partner bank agreement relating to such deposits, by both the custodian and partner bank, unless all parties agree to migrate to a suitable alternative custodian.
Articles in this section
- Which Custodian entity opens the account with the Partner Bank?
- Where are the Client Monies accounts held by Meteor Asset Management?
- What is the regulatory oversight to the process of placing Client Monies with the Custodian?
- Is there a separate Client Monies account held for each Depositor? If not, how do you ensure the funds are not inter-mingled with other Depositors?
- How are the funds deposited protected from any insolvency risk of the Custodian.
- What will the Partner Bank do in case the Custodian is insolvent?
- What is a Bare Trust?
- If the Depositor is the Beneficial owner of the Funds and the Custodian is the Trustee, how is this relationship defined?
- What happens if the bank holding the Client Monies becomes insolvent?
- Where are the deposit funds transferred to on Maturity? Is this sent back to same account from where the funds were first deposited by the Custodian? Is there any way Settlement Instructions can be changed by the Custodian?
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