SEC: Custody rules might change
The SEC plans to propose changes to custody rules aimed at better protecting investor assets, the agency’s chairman said last month in a public speech.
The SEC plans to propose changes to custody rules aimed at better protecting investor assets, the agency’s chairman said last month in a public speech. Essentially, the changes would strengthen the controls that apply to investment advisers with custody of client funds to include surprise examinations and third-party compliance audits. For a look at SEC Chairman Mary Schapiro’s full speech, visit sec.gov/news/speech/2009/spch042709mls.htm.
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