TRUST ACCOUNTS.
SHARKKROKEUS AND THEIR CLIENTS. (fly Telcgraph.'-rrcFS Association.) Auckland, May 19. In tho course of a ease, in which a former member of the Stools Eschango was charged withbreaches of tho Bankruptcy Act, Mr. Hall-Jones, who appeared for tllo prosecution,, said the of' itce, which he represented, hasl. bean strenuously endeavouring to seeiiro a regulation whereby all- sharehrokers would be compelled to keep trust. ■ accounts of their clients.* nwwoj;. When it was remembered that solicitors had to have their trust accounts Audited this was d very .reasonable request to make.
In reply th© M-ttfristratc said: '.'I sfto no reason why sharobrokers should not lio brought into lino with solicitors iuid kind agents. and be compelled to keen separate tHlst account's ijito which, all clients' moneys should be paid. That would mean that iu a ease like tin*' present—so long as tho defendant did not mis his own money with his ■ clients 1 moßoy—lio matter what his own personal financial position might he, his cikuts would not suffer. Their trust moneys would bo protected by law."
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Dominion, Volume 7, Issue 2153, 20 May 1914, Page 8
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176TRUST ACCOUNTS. Dominion, Volume 7, Issue 2153, 20 May 1914, Page 8
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