Under Article (21), a broker is legally deemed a trustee for any amounts, securities, or bonds delivered to them for safekeeping. The broker is obligated to return or deliver these items exactly as per the stipulated conditions. Article (22) adds th…
Under Article (21), a broker is legally deemed a trustee for any amounts, securities, or bonds delivered to them for safekeeping. The broker is obligated to return or deliver these items exactly as per the stipulated conditions. Article (22) adds that the broker is personally liable for any loss or damage caused by their fraudulent acts or deceit. This fiduciary duty ensures that brokers handle client money and sensitive documents with the highest level of care.
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