Custodian
| A custodian is a business responsible for the safekeeping of financial assets in its custody on behalf of an individual or an institution. Custodians typically work with banks, brokerage firms, and other financial institutions to provide safekeeping and administration of securities and other assets. The role of a custodian is to protect the assets in its care and to ensure that they are properly accounted for. Custodians are required to maintain records of all transactions and to provide reports to their clients on a regular basis. They also must comply with all applicable laws and regulations. Custodians typically charge a fee for their services, which is based on the value of the assets under their care. |
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