Many Investment Advisers Are Not Prepared for SEC’s New Custody Rule

March 29, 2010

Although the recent changes by the U.S. Securities and Exchange Commission (“SEC”) to the custody rule for federally registered investment advisers went into effect on March 12, 2010, it appears that many investment advisers mistakenly assume they don’t have custody, misinterpret the definition of custody or believe they are somehow exempt from the custody rule requirements.

As a result, RIA Compliance Consultants is encouraging SEC registered investment advisers to listen to the recording of our February 25, 2010 webinar, Exploring the SEC’s New Custody Rule . During this webinar Jarrod James and Bryan Hill of RIA Compliance Consultants explore common investment adviser practices that result in custody as defined by the SEC and answer questions about the new custody rule’s impact on investment advisers. Focus is given to the deduction of advisory fees, acceptance of third-party checks from clients, trustee relationships, withdrawal authorization from client accounts and other common custody situations.

All federally registered investment adviser firms are encouraged to listen to this important webinar to better understand the SEC new custody rule’s impact on their operations. Click here to purchase your seat to this recording.

Posted by Bryan Hill
Labels: Custody, Webinar