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Keep in mind that dinosaurs would probably give anything to be taking this exam right now. Remember the alamosaurus.

Custody

During his lunch break, Eddie continued reading from the handouts the Smoking Woman gave them earlier:

When an investment advisory firm has physical possession of a client’s assets, including cash, funds, or other types of investment securities, they are said to have custody of client assets. Custody of assets is almost always handled by a bank or trust company, basically because it’s a huge headache due to stringent recordkeeping and minimum net capital requirements.

The Uniform Sec...

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