SEC Proposes Radical Transformation Of Custody Rule Into New Safeguarding Rule - Financial Services
On February 15, 2023, the Securities and Exchange Commission (the "SEC") proposed a significant transformation of Rule 206(4)-2 under the Investment Advisers Act of 1940 into a new Rule 223-1 under the Advisers Act applicable to SEC-registered investment advisers.
Exchange Commission Division Of Examination Expansion To Discretionary Investment Authority Institution Requirements Advisers Act Safeguarding Rule
Source: mondaq.com