Securities Intermediary Law and Legal Definition
According to 31 CFR 357.2 [Title 31 -- Money and Finance: Treasury; Subtitle B -- Regulations Relating to Money and Finance; Chapter II -- Fiscal Service, Department of the Treasury; Subchapter B -- Bureau of the Public Debt; Part 357 -- Regulations Governing Book-Entry Treasury Bonds, Notes and Bills Held in Legacy Treasury Direct; Subpart A -- General Information], securities intermediary means:
“(1) A Person that is registered as a "clearing agency" under the federal securities laws; a Federal Reserve Bank; any other person that provides clearance or settlement services with respect to a Book-entry Security that would require it to register as a clearing agency under the federal securities laws but for an exclusion or exemption from the registration requirement, if its activities as a clearing corporation, including promulgation of rules, are subject to regulation by a federal or state governmental authority; or
(2) A Person (other than an individual, unless such individual is registered as a broker or dealer under the federal securities laws) including a bank or broker, that in the ordinary course of its business maintains securities accounts for others and is acting in that capacity.”
Legal Definition list
- Securities Information Processor
- Securities Industry Automation Corporation (SIAC)
- Securities Fraud
- Securities Exchange Act of 1934
- Securities Dispute Resolution
- Securities Intermediary
- Securities Investor Protection Act
- Securities Investor Protection Corporation (SIPC)
- Securities Laws
- Securities Lending
- Securities Lending Risk
