But what we can do, there are several advantages that we have over bankruptcy for our financial intermediary.

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Payments over that amount would have to be processed via a financial intermediary subject to the Anti-Money Laundering Act (AMLA).

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Any communication will usually be done through your financial intermediary.

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Banks have long been the dominant financial intermediary, but Mr Hale predicts that the mutual-fund industry is growing so rapidly that its assets could exceed those of America's banking sector before the end of this year.

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Such has been the scale of inflows that by the end of this year (if it continues) the total assets of mutual funds are likely to overtake those of banks, which have been the dominant financial intermediary for the past two centuries.

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