Tag: Custody

SEC’s ‘Hammer’ Approach to Custody Revamp Worries Money Managers

Were the rule adopted as proposed, money managers would have to re-evaluate many custodial agreements. Investment firms would also have to wrestle with additional complexities around whether their arrangements comply with the expanded rule—something that can already be a sensitive judgment call. “It’s not a simple matter of more paperwork,” Avellaneda said. As proposed, the rule could have a “hugely…

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SEC Chair Gensler’s new proposal tightens crypto custody restrictions

Securities and Exchange Commission chairman Gary Gensler on Wednesday proposed sweeping changes to federal regulations that would expand custody rules to include assets like crypto and require companies to gain or maintain registration in order to hold those customer assets. The proposed amendments to federal custody rules would “expand the scope” to include any client assets under the custody of an investment…

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U.S. securities regulator probes investment advisers over crypto custody -sources | Reuters

The U.S. Securities and Exchange Commission is probing registered investment advisers over whether they are meeting rules around custody of client crypto assets, three sources with knowledge of the inquiry told Reuters. The SEC has been questioning advisers’ efforts to follow the agency’s rules around custody of clients’ digital assets for several months, but the probe has gathered pace in…

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