Description
The State of Nevada is seeking a vendor to provide securities custodian services for the Office of the State Treasurer, Unclaimed Property Program. The selected vendor will be responsible for receiving, depositing, selling, and remitting proceeds of abandoned securities. The contract term is expected to be four years, with two one-year extensions possible. The vendor must have at least ten years of experience providing master securities custody services and currently provide safekeeping and brokerage services for portfolios in excess of $50 million.
• Must be a SEC registered investment advisor or be exempt from registration
• Must maintain sufficient procedures and redundancy capabilities to ensure continued processing in a disaster
• Must be able to provide fair market value and sell on the open market: equities, mutual funds, and other assets at the request of the Administrator
• Must be registered to conduct business in the State of Nevada or become duly qualified to do business in the State as a foreign business entity, before a contract can be executed