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FORTY-EIGHT
BOXES.

Every service the bank runs sits in a numbered deposit box on one of four walls. Wall 1 is the house's own book, Wall 2 is client mandates, Wall 3 is the fiduciary side, and Wall 4 is the market machinery — numbered B-01 through B-48.

WALL 1

Principal & Own Account

9 boxes · B-01 – B-09 The bank's own book — dealing as principal at the house's own risk. Counterparties see the capacity in writing before anything moves.

B-01Individuals investing in financial contracts on own accountOwn-account financial contract positionsPrincipal

B-02Investment clubsPooled own-account club investingPrincipal

B-03Mineral royalties or leases dealingActing as principal in royalty and lease dealingsRoyalties

B-04Mortgage dealers, buying and sellingMortgage paper bought and sold as principalMortgage

B-05Oil royalty dealingOil royalties dealt as principal to investorsRoyalties

B-06Securities speculators for own accountOwn-account speculative positionsPrincipal

B-07Tax liens dealingTax liens dealt as principal to investorsLiens

B-08Venture capital companiesOwn-capital venture positionsVenture

B-09Viatical settlement companiesViatical settlement interestsViatical

WALL 2

Advisory & Management

16 boxes · B-10 – B-25 Client mandates — customized, fee-paid advice plus the funds and trusts where the bank manages the money itself.

B-10Certified financial planners, customized, fees paid by clientCustomized CFP planning, client-paidPlanning

B-11Financial investment advice services, customizedClient-paid customized investment adviceAdvice

B-12Financial planning services, customized, fees paid by clientCustomized financial planningPlanning

B-13Investment advice consulting services, customizedCustomized advice consultingAdvice

B-14Investment advice counseling services, customizedCustomized advice counselingAdvice

B-15Investment advisory services, customized, fees paid by clientCustomized advisory mandatesAdvisory

B-16Investment managementDiscretionary investment managementMgmt

B-17Managing investment fundsInvestment fund managementFunds

B-18Managing mutual fundsMutual fund managementFunds

B-19Managing personal investment trustsPersonal investment trust managementTrusts

B-20Managing trustsTrust asset managementTrusts

B-21Mutual fund managingMutual fund portfolio managementFunds

B-22Pension fund managingPension fund managementPension

B-23Personal investments trusts, managingManaging personal investment trustsTrusts

B-24Portfolio fund managingPortfolio fund managementPortfolio

B-25Private equity fund managingPrivate equity fund managementPE

WALL 3

Trust & Custody

8 boxes · B-26 – B-33 The fiduciary wall — estates, trust administration, non-real-estate escrow and fiduciary agencies, and securities custody.

B-26Administrators of private estatesPrivate estate administrationEstates

B-27Bank trust officesTrust office functionsTrust

B-28Escrow agencies (except real estate)Non-RE escrow agencyEscrow

B-29Fiduciary agencies (except real estate)Non-RE fiduciary agencyFiduciary

B-30Personal investments trust administrationPersonal investment trust administrationTrust

B-31Securities custodiansSafekeeping of securitiesCustody

B-32Trust administration, personal investmentInvestment trust administrationTrust

B-33Trust companies, nondepositoryNondepository trust company functionsTrust

WALL 4

Market Services

15 boxes · B-34 – B-48 The machinery wall — clearing, brokering, protecting holders, quoting and transferring the paper.

B-34Business start-up fundraising via crowdfunding platformCrowdfunded capital raisingCrowdfund

B-35Clearinghouses, commodity exchange or securities exchangeExchange clearing servicesClearing

B-36Deposit brokersDeposit brokerageBroker

B-37Exchange clearinghouses, commodities or securitiesCommodity and securities clearingClearing

B-38Gas lease brokers' officesGas lease brokerageLease

B-39Oil lease brokers' officesOil lease brokerageLease

B-40Protective committees, security holdersHolder protective committeesProtect

B-41Quotation services, securitiesSecurities quotation feedsQuotes

B-42Quotation services, stockStock quotation servicesQuotes

B-43Securities holders' protective servicesProtecting security holders' interestsProtect

B-44Securities transfer agenciesSecurities transfer agencyTransfer

B-45Stock quotation servicesStock quote publicationQuotes

B-46Stock transfer agenciesStock transfer agencyTransfer

B-47Transfer agencies, securitiesSecurities transfer agency scopeTransfer

B-48Virtual currency trading exchange clearinghousesVirtual currency clearingClearing

FORTY-EIGHTBOXES.

Principal & Own Account

Advisory & Management

Trust & Custody

Market Services

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FORTY-EIGHT
BOXES.

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