SEC proposes new Custody Rule

The SEC has recently proposed changes to its Custody Rule that if adopted will substantially expand and reform the existing rules governing custody of client assets. The scope of assets covered by the new Rule will be changed from limited “securities and funds” to any “positions held in a client account”. It also enhances client protections by imposing additional requirements and obligations on custodians…

We’ve produced a short guide to the key changes being proposed and what this means for firms. Click here to access it.

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