Insights

SEC Responds to No-Action Relief from the Custody Rule for Advisers with SLOAs

Article Excerpt:

By now, advisers and others within the investment community are familiar to some degree with the amendments to Rule 206(4)-2 under the Investment Advisers Act of 1940 (the “Custody Rule” or the “Rule”).  Although most agree that the Custody Rule has provided additional protection to investors, it has also placed an additional regulatory and economic burden on investment advisers. 

The SEC recently provided some guidance to investment advisers which we have summed up in this newsletter.