European Brokerage · glossary
Handing ownership of money or investments to a firm as security. MiFID II bans it for retail clients, and clause 10.3 promises that Thalvia will never ask for it. The same clause bars Thalvia and Holmbrecht from using, lending or pledging client investments. Clause 10.3 · Chapter 7
Explained in Chapter 7, Client Money, Client Assets and the Investor Compensation Fund, of European Brokerage.
The main page for this term is Title transfer (v security interest), in Derivatives.
A lent share may come back late, or not at all. The law allows a firm to use client investments only with the client’s express consent, and Thalvia never asks for it. In a title transfer, the client hands ownership to the firm as security. MiFID II bans it for retail clients, and the second sentence promises clients it will never happen.Read Chapter 7, Client Money, Client Assets and the Investor Compensation Fund →
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