19 credit worthiness or that of its securities. 5.If the institution is a US brokerage firm or if it involves an investment advisor check the FINRA filings at FINRA or the SEC. 6.If the institution is a sovereign national government or a municipal govern- ment or related agency you should be able to access extensive budget and financial disclosure at their website. In the United States municipal bond issues provide extensive documentation that can be found at the online system available from the Municipal Securities Rulemaking Board MSRB. Disclosure on corporations banks and sovereign and municipal issuers may also be available from brokers banks and rating agencies. 7.If the institution is a not-for-profit it is required to make disclosure available as a matter of law in many jurisdictions. For example not-for-profits in the United States are required to make three years of tax returns publicly available. If these re- turns are not available on their website you can request them by mail. If the institution makes it difficult to access them it should be dropped from consideration. 8.Search news services on the Internet for red flags. In the United States check the Better Business Bureau for com- plaints and the PACER system to review case and docket information from federal appel- late district and bankruptcy courts. Remember this method will not access court records that have been sealed or disappeared. Recommendations Network with friends family members trusted professionals and business people lawyers financial advisors CPAs asset man- agers if doing so does not disclose informa- tion you would prefer to keep confidential. Ask for recommendations of custodians whom they use and recommend. Pay par- ticular attention to recommendations that speak to both the integrity and service of a custodian. I have found that trusted experts save a great deal of time in determining who is the best custodian in a given role or location. Personal Phone Calls and Visit Personal contact and visits can make a big difference. Even when someone insists that he or she is not knowledgeable to determine if an institution is qualified I find that such a person can learn a great deal by speaking with and then visiting a potential custodian personally. Financial regulation often stresses the impor- tance of knowing your customer. Personal visits and communication go a long way not simply for successful due diligence but in ensuring smooth communications and trust including when things go wrong. It is im- portant to ensure that things keep going right I have to say it one more time. Taking the time to ensure that you have excellent custodi- ans and that you enjoy excellent relationships with your custodians provides an essential infrastructure for successful cash management. Dont worry about financial products and returns until you have first established an excellent infrastructure.