The document discusses the treatment of customer assets and collateral arrangements in the event of insolvency for U.S. broker-dealers, FCMs, and banking organizations. It outlines the risks and consequences of re-using customer assets, the impact on property interests, and the implications of different collateral arrangements. The document also notes that customer assets may not be held in segregation or trust when used, and highlights the pro rata distribution of claims in insolvency proceedings.
doj/DataSet10/EFTA01381188.pdf
{"document_type":"legal","key_locations":["U.S."],"document_subtype":"information statement","key_organizations":["International Swaps and Derivatives Association","Association for Financial Markets in Europe","Securities Industry and Financial Markets Association"]}