Tag Archives: custodian

Mutual Fund Corner: The Brinks Company Receives No-Action Relief Permitting It to Maintain Custody of Gold Bullion and Other Precious Metals

INTRODUCTION On February 11, 2014, the Office of the Chief Counsel ("Chief Counsel") of the SEC’s Division of Investment Management issued No-Action Relief to The Brink’s Company ("Brink’s"), a company that provides gold bullion and other precious metals ("Precious Metals") vault services to a wide range of institutional customers.  The No-Action Letter,  which is available here, is likely to be … Continue Reading

A Half-Time Report from The CFTC Roundtable on Individual Customer Collateral Protection

This roundtable is now on break and here is the half-time report. BUYSIDE COMMENTS: Not all clients choose tri-party control agreements, but those who do understand that there are incremental costs and are willing to pay those incremental costs. The re-tooling of the market as a result of movement from bi-lateral to cleared OTC markets … Continue Reading

CFTC Roundtable: Individual Customer Collateral Protection

WHAT: CFTC Roundtable on Individual Customer Collateral Protection. Topics  to be discussed: 1) Concerns of customers that trade derivatives with respect to safety of their collateral 2) Models to address those concerns and how to implement such models 3) Structural changes to existing clearing architecture to implement those models 4) Cost of such changes BENEFIT OF … Continue Reading