4462. Global financial institution bonds

If a Dealer Member maintains insurance under Part C of Rule 4400 that names the insured as, or that benefits, the Dealer Member and any other person, then:

1. the Dealer Member must have the right to claim directly against the insurer for losses, and payment or satisfaction of losses must be made directly to the Dealer Member, and

2. the individual or aggregate limits under the standard form financial institution bond may only be affected by claims made by or for:

   1. the Dealer Member,

   2. the Dealer Member’s subsidiaries whose financial results are consolidated with the Dealer Member’s, or

   3. the Dealer Member’s holding company, if the holding company does not carry on any business or own any investments other than its interest in the Dealer Member.

3. This applies no matter what the claims, experience, or any other factor that refers to any other person.