Define: Covered Account
Covered Account means an account established by a [financial intermediary] for conducting transactions, holding [covered securities], or beneficial ownership.
Covered Account means an account established by a [financial intermediary] for conducting transactions, holding [covered securities], or beneficial ownership.
Relevant Circumstances
- During the establishment of an account for conducting transactions.
- In scenarios involving the storage or holding of securities.
- When an entity wants to establish beneficial ownership over an account.