1 May 2025
💼SEC Proposed Rule 206(4)-2 Collection Comment Request
Proposed Collection; Comment Request; Extension: Rule 206(4)-2
Summary
The SEC notifies about the proposed extension of information collection under Rule 206(4)-2, governing the custody of client funds by registered investment advisers. It highlights key compliance requirements, including maintaining custody with qualified custodians and conducting surprise asset examinations, to enhance protection for advisory clients.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The notice outlines compliance requirements under Rule 206(4)-2 for investment advisers regarding the custody of client funds, which have direct financial implications for advisers managing client assets. Requirements include maintaining funds with qualified custodians and conducting annual audits, impacting operational costs and oversight needed for compliance.