02 June 2022
FAQ 44.29.3 – How should fractional shares allocated in a customer’s brokerage account be accounted for by the broker/dealer?
In many cases, shares purchased by a customer are accounted for off-balance sheet by the broker/dealer because the broker/dealer does not bear the risks/rewards of the shares deposited in the customer’s accounts and holds these shares in segregated custody on the customer’s behalf.
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UK IFRS Manual 44. Recognition and de-recognition