Regulatory Alerts2023-03-09 | 2023-03681Added
Safeguarding Advisory Client Assets
The Securities and Exchange Commission proposes a new rule to redesignate and amend the existing custody rule, renaming it the safeguarding rule to enhance investor protections. The proposal requires investment advisers to maintain client assets with qualified custodians and establishes specific safeguards for assets that cannot be held by such custodians. Additionally, the Commission proposes corresponding amendments to the recordkeeping rule and Form ADV to align with these enhanced requirements.
Topics
safeguarding
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