Business / Taxes / Safekeeping: Safekeeping occurs when a broker-dealer holds securities for a client that are registered in the client’s name. The advantage from the client’s perspective is that the securities are safe and the broker-dealer has them available to sell at the client’s instruction. The disadvantage from the broker-dealer’s perspective is that securities held in a client’s name are not fully negotiable or fungible, so they can’t be used to settle trades, for example. Thus, it’s a service for which many firms charge a fee. Instead of being registered in their own names, clients’ securities may be registered in the broker-dealer’s name or in the name of a depository. That’s known as being registered in street name or nominee name. With this type of registration, the client’s ownership rights are fully protected but the stock is fungible. The broker-dealer may use a limited portion of the holding to settle trades or for other purposes.
Science / Psychiatry / Projective Identification: A term introduced by Melanie Klein to refer to the unconscious process of projection of one or more parts of the self or of the internal object into another person (such as the mother). What is projec MORE