Proposal for the workshop (email from Marley Gray)
"I’ve Marley has been engaged in a couple of custody scenarios and would like to see if you CMSIG would be open to workshopping custody using the framework to see if we could come up with a draft and start circulating it for review and comment. I Marley could create the initial artifacts and we could spin up a collaborative session so I he can guide you through updating and extending it so you can ultimately taking charge of the artifacts related."
- Custody: Condensed version of what was discussed during CMSIG call on December 4th 2019. Full audio available in link.
What is custody: It is a delegated possession of securities on behalf of the owner. In retail crypto-currencies, if you have an account with an exchange, and you let your account hold crypto-currency or cash; the exchange has "custody" of your assets. There is legal hair-splitting on whether possession or control implies custody. The latest ruling by the SEC on custody by Investment Advisors goes into this in depth.
...