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Most independent advisers use a separate custodial firm to hold their funds.
"It is a financial custodial firm" Stack points out.
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Some early private lawsuits against investment advisers, giant accounting firms and custodial banks are constrained by the tighter limits that Congress imposed on securities fraud cases in the mid-1990s.
Fearful of losing money right along with Bear Stearns, customers began shifting their cash to so-called custodial accounts, meaning that the firm could no longer borrow against it.
In addition, Citco and most other big hedge fund administrators offer clients many more fee services everything from bridge loans and custodial services to outsourcing a firm's entire back office.
His firm serves as a custodial bank for more than 270 European banks.
In joint custody both parents are custodial parents and neither parent is a non-custodial parent, or, in other words, the child has two custodial parents.
Tech firms require health-care and custodial services; their workers drive business to stores and restaurants.
It stated that the couple had given "full discretionary authority" over their custodial account at the bank to the Madoff firm.
In 1997, the Organization have separated the managing function from the custodial function and entrusted the latter to a firm selected upon competitive bidding.
G4S's managing director for custodial and detention services, Jerry Petherick, told the BBC the firm welcomed "any fact finding and research carried out with the aim of improving the living standards and outcomes of those people held in immigration removal centres across the country".
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