Is an issuer risk free financial product secure if the bank holding it goes under?
When purchasing ETFs or other financial products, I only choose finance products that are "issuer risk free", which means that in case the institution that sells these products goes broke I retain ownership of the finance product and the underlying values of which it is composed.
However, is there some kind of mechanism in place that prevents ownership records from getting lost or products becoming inaccessible and untradeable if the bank which holds the assets goes under? If the website of the bank goes down, all employees are laid off and the customer hotline is disconnected - is there a way to reestablish ownership of your products - or could the assets become inaccessible for good?
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