IOSCO has published its final report on regimes for the protection, distribution and/or transfer of client assets. The report looks at differences in treatment of client assets in various regimes. It looks at:
- distinctions between fully-paid and margin securities;
- distinctions between securities securing debts of a client to the investment firm and those that serve as a performance bond against possible future debts; and
- protections available before and after the insolvency of an investment firm.