Comments are due by May 8, 2023 on an SEC proposal that would substantially expand requirements under the Advisers Act custody rule (IAA Rule 206(4)-2) and amend related recordkeeping and reporting obligations.
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The SEC proposed to significantly amend and redesignate the Advisers Act "Custody Rule," expanding its requirements. The proposal also amends related recordkeeping and reporting obligations.
The SEC set a comment deadline of October 10, 2023 for a proposed rulemaking that would require broker-dealers and investment advisers to eliminate conflicts of interest associated with the use of predicative data analytic technologies.
The SEC reopened and extended the comment deadline until October 30, 2023 on a proposal to significantly amend and redesignate the Advisers Act "Custody Rule," expanding its requirements.
An investment adviser and its CIO settled SEC charges in connection with an alleged scheme to unduly stall the liquidation of assets after two hedge fund clients attempted to redeem their investments.