Class Actions & Custody Question

If I have an employee who completed a Class Action Claim Form for a client and had the Mailing Address completed to be mailed Care Of our office address so they could forward it on to the correct custodian when the funds were finally distributed - is that Custody rather than 'inadvertent' custody since the employee put the mailing address as Care Of our office?

Comments

  • don't think so - usually advisers with discretion reference this item in their advisory agreements
  • While a class-action settlement falls into the "inadvertent" exception, I would say that if you put your address on the paperwork, that would negate it being inadvertently received.

    Jessica Dellinger
    Compliance Officer

    GenSpring Family Offices
    Tel 561.839.1279
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