The trading settlement funds or securities of its client may not be defined as its insolvent assets or liquidation assets.
非因客户本身的债务或者法律规定的其他情形，不得查封、冻结、扣划或者强制执行客户的交易结算资金和证券。
Things are not quite so brutal these days, but European countries still deal with insolvent firms far more harshly than America does, and most such firms end up in liquidation.
现在不再有这么残酷的事了。但欧洲国家和美国相比，对资不抵债的公司的处理办法仍要严厉些。而且绝大多数这类公司都以破产清算结束。
Things are not quite so brutal these days, but European countries still deal with insolvent firms far more harshly than America does, and most such firms end up in liquidation.
现在不再有这么残酷的事了。但欧洲国家和美国相比，对资不抵债的公司的处理办法仍要严厉些。而且绝大多数这类公司都以破产清算结束。
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