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Post# of 708087
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JerryCampbell

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JerryCampbell

Re: maverick_1 post# 193267

Sunday, 10/14/2018 5:38:46 PM

Sunday, October 14, 2018 5:38:46 PM

Post# of 708087
Do you understand that a firm can be an asset manager and not be a broker dealer?

An asset management firm can have its stock held by a prime broker as custodian (ex: Goldman, Morgan Stanley). That broker is actually lending the shares, and has to meet the requirements you noted.

Consider the analogy for an individual with a brokerage account. I can get paid by Charles Schwab for lending stock, but it is Schwab that is registered as a broker-dealer.


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