SEC’s Proposed Amendment to Its Custody Rule

Public Policy


Regulatory Comments

SEC’s Proposed Amendment to Its Custody Rule

May 20, 2009

On May 20, 2009, the Securities and Exchange Commission (SEC) proposed amendments to Rule 206(4)-2, relating to custody of client assets, under the Investment Advisers Act of 1940. The definition of custody would continue to include arrangements in which a registered adviser is authorized or permitted to withdraw client funds or securities maintained with a custodian upon the adviser’s instruction to the custodian. CFP Board submitted comments to the SEC in a letter dated July 28, 2009, that focused on two of the proposed amendments.

Read CFP Board’s letter (PDF, 91KB)


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