Amendments Custody Rule For Investment Advisors

Topics:
Regulatory issues
Tags:
Advisor,
Amendment,
Benefits,
Finance,
Human Resources,
Investment,
Mutual Funds,
Retirement Plans,
Seyfarth Shaw
Source:
Seyfarth Shaw

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Overview: The SEC has issued amendments to modernize the custody rule under the investment advisor act of 1940. The SEC indicated that the amendment are intended to enhance protections for advisory clients assets, harmonize the custody rule with current custodial practices and clarify the circumstances under which advisors will be deemed to have custody. The following are important features of the new custody rule: definition of custody, quarterly client account statement. Form ADV, exceptions for mutual funds and private offering. These amendments play a vital role for the investment advisors.

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Format: PDF | Size: 80KB | Date: Oct 2003 | Pages: 2

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