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One of the longest rallies we have seen in any asset class," said Justin Braitling, the chief investment officer with Watermark Funds Management.

When the holder of the underlying stock receives a dividend, the holder of the hypothecated share would receive an equal dividend from the short seller.

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Only Santander have specific restrictions on normal withdrawals, limiting them to amounts of between £50 and £500 - but that applies to all customers.

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  • The Bureau solicits comment on the costs of recordkeeping for small entities.