This document outlines the terms and conditions of an agreement between a client and Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation. It covers the lending of securities, interest on debit balances, amendment procedures, telephone conversation monitoring, assignability, severability, and capacity to contract. The agreement allows Pershing to lend securities held in the client's account and charge interest on debit balances. It also permits the Executing Broker to modify the agreement terms with prior notice and to monitor or record telephone conversations. The agreement is not assignable without consent, and provisions inconsistent with laws will be modified or rescinded.
doj/DataSet10/EFTA01454082.pdf
{"document_date":"2011","document_type":"legal","document_subtype":"contract","key_organizations":["Pershing LLC","The Bank of New York Mellon Corporation","FINRA","NYSE","SIPC"],"reference_numbers":["FRM-PRMBRK-12-11","DB-SDNY-0112009","SDNY_GM_00258193","EFTA01454082"]}