Sentences with phrase «brokerage holds my money»

I know my brokerage holds my money in trust and that made me feel a bit more comfortable until I read this.

(2) Subsection (1) does not apply if the brokerage holds the money under a duty under the Residential Tenancy Act to pay the interest to a tenant.

(i) for money held by the brokerage as a stakeholder under section 28 [circumstances in which brokerage holds money as stakeholder] of the Act, listing each trade in real estate in relation to which the brokerage holds the trust money, and the amount being held in relation to each trade,

The brokerage holds the money as a stakeholder and not as an agent for one of the parties to the trade in real estate.

Not exact matches

To clarify, an FCM is a brokerage firm (typically a large one but it doesn't have to be) that is capable of accepting money in the name of clients to hold as margin for trading activities.

As with any exchange or brokerage, you need an account to hold your money and investments.

Today's crypto enthusiasts are at somewhat of a disadvantage if their money is predominantly held in IRAs or brokerage accounts they can not withdraw from.

Allan Roth, a financial planner at Wealth Logic in Colorado Springs, Colo., says he recently met with three new clients, each holding between $ 8 million and $ 30 million in cash — all in bank or brokerage money - market accounts earning as little as 0.01 % annually.

For example, a savings account, checking account, brokerage account, or money market account held in your own name may be subject to probate.

Although money market funds traditionally hold their value at a share price of $ 1, there's no guarantee that the principal value won't deviate from $ 1, which makes the MMF riskier than the comparable bank and brokerage account products.

Also, make sure you are making the deposit payable to a real estate brokerage, law firm, escrow firm, or title company so you know the money is being held safely until your transaction is complete.

For each separate brokerage, enter your base currency, then enter the brokerage name, account number, what currency you hold the money in, the lot type, and equity amount.

Despite the larger amount of client money held at the brokerage, the company's revenues slid in 2016, coming in at $ 16.5 million for the first nine months of the year, compared to almost $ 19.5 million last year.

Is this the same as holding a money market fund from another insitution in the brokerage account of a different institution?

Money funds provide a convenient holding place for cash in, say, a linked brokerage account.

When the company makes money, its shareholders make money, whether they hold their investments in SEP IRAs or individual brokerage accounts.

Also, many of my directly held stocks in my brokerage make money in other countries.

Savings — You could call this my «Emergency Fund», but I actually use it as a «holding pen» to transfer money into my brokerage account.

You can often continue to hold your DSC mutual funds with a new investment adviser or in a discount brokerage account if you'll be investing your own money, so you don't have to leave the investments with your old adviser.

One company in the industry reports that its clients hold up to 14 % of their balances in cash at any given time, generating billions in interest income for the brokerage, which pays its clients 0.01 % per year and invests their money at 1 % -2 %.

Brokerages make money via lending securities they hold, interest on cash held in a brokerage account, extending credit through margin to customers, and getting paid for distributing certain funds or to transact on various exchanges.

This cash should be held in a money market, T - bills or your brokerage sweep account.

An investment account is the cash account (usually a Money Market account) that you hold at your brokerage.

As such for any Brokerage to attempt to maintain a listing, even if owed money by the listing agent, would fail to hold up contractually, once the courts found out such disclosures were not made at the time of the listing.

As such, assisting in the sale of a business was an activity for which a real estate licence was required and deposit monies had to be held, in trust, by brokerages, in accordance with section 16 of the former Real Estate Act.

Section 27 (5) of RESA provides that a brokerage must ensure that no money, other than money held in relation to real estate services, is paid into its brokerage trust account.

As an alternative to filing an Accountant's Report, a brokerage that did not hold or receive any public trust money during the fiscal year to which the financial statements relate may file with the Council a solemn declaration.

Occasionally, a brokerage may be unable to trace individuals whose money they hold in trust.

30 (1) Money in a brokerage trust account, other than money that the brokerage holds as stakeholder, may be withdrawn only if it is one or more of the folloMoney in a brokerage trust account, other than money that the brokerage holds as stakeholder, may be withdrawn only if it is one or more of the follomoney that the brokerage holds as stakeholder, may be withdrawn only if it is one or more of the following:

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3.1 For the purposes of section 29 (1)(b)[interest on trust account] of the Act, a brokerage that is credited by a savings institution with interest on money held in a brokerage trust account must

Pursuant to section 32 [unclaimed money held in trust] of the Real Estate Services Act, a brokerage may transfer money held in trust by a brokerage to the administrator appointed under the Unclaimed Property Act, if

(a) the brokerage did not hold or receive any public trust money during the fiscal year to which the declaration relates, and

(b) all money held or received on account of remuneration for real estate services, including a share of remuneration received from another brokerage, and

(2) If, by an agreement under section 27 (4) of the Act, the principals agree that money referred to in section 27 (1) or (2) of the Act that is held or received by a licensee is to be paid or made payable to a holding brokerage, the following rules apply:

(a) the holding brokerage must deposit the money into a separate brokerage trust account maintained in the name of the service brokerage;

(a) if the brokerage is to hold the money on behalf of the strata corporation, transfer it to an applicable trust account under subsection (2)(b) or (c), or

(b) if the brokerage is to hold contingency reserve fund money, at least one separate trust account in the name of the strata corporation for the contingency reserve fund money;

(2) If a brokerage or a related licensee holds or receives money in relation to a trade in real estate, the brokerage must prepare and retain a record sheet respecting the trade, in a form approved by the council, that includes the following information:

(c) if the brokerage is to hold special levy money, at least one separate trust account in the name of the strata corporation for the special levy money.

The Real Estate Trading Act requires every brokerage in the province to maintain an interest - bearing trust account where all money received by consumers is held.

(7) As an alternative to filing an accountant's report under subsection (1)(b), a brokerage that did not hold or receive any public trust money during the fiscal year to which the financial statements relate may file with the council a solemn declaration, completed in accordance with section 4 - 9.1 of the bylaws, respecting

(2) A brokerage must, for each strata corporation on behalf of which the brokerage holds or receives money, maintain the following brokerage trust accounts:

Monies held in a real estate brokerage trust for a transaction are held for both parties to the contract.

In designated agency, the brokerage and the client agree that these duties — other than the duty shared with the designated agents to keep the confidences of the client, and the holding of money on behalf of the client — are the responsibility of the designated agents.

This could be a bank savings or brokerage money market account holding your liquid cash.

Also, make sure you are making the deposit payable to a real estate brokerage, law firm, escrow firm, or title company so you know the money is being held safely until your transaction is complete.

Section 7 - 9 of the Real Estate Council Rules was amended on July 1, 2012 to require a brokerage that holds special levy money on behalf of a strata corporation to hold that money in at least one trust account separate from the operating fund account and the contingency reserve fund (CRF) account.

Therefore, regardless of the amount of money that a brokerage may hold in trust on behalf of a strata corporation, the maximum amount that could be recovered from the special compensation fund, should there be a significant misappropriation, would be $ 100,000.

Many brokerages are unable to trace individuals whose money they hold in trust.