Hypothecation of Customer Securities. Clearing Firm shall maintain possession and control of Introducing Firm's customer funds and securities in accordance with the broker-dealer financial responsibility rules promulgated under the SEA and other applicable laws, rules or regulations. Within limitations imposed by applicable laws, rules and regulations, securities and other property in Introducing Firm's customer and proprietary accounts may be pledged and hypothecated by Clearing Firm from time to time, without notice to Introducing Firm. Clearing Firm may do so without retaining in its possession or under its control for delivery a like amount of similar securities or other property.
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Sources: Clearing Agreement (Olympic Cascade Financial Corp)
Hypothecation of Customer Securities. Clearing Firm shall will maintain possession and control of Introducing Firm's customer funds and securities in accordance with the broker-dealer financial responsibility rules promulgated under the SEA Securities Exchange Act of 1934, as amended and other applicable laws, rules or regulations. Within limitations imposed by applicable laws, rules and regulations, securities and other property in Introducing Firm's customer and proprietary accounts may be pledged and hypothecated by Clearing Firm from time to time, without notice to Introducing Firm. Clearing Firm may do so without retaining in its possession or under its control for delivery a like amount of similar securities or other property.
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