2 Jul 2025
📄SEC Rule 204-3
Submission for OMB Review; Comment Request; Extension: Rule 204-3
Summary
The SEC has submitted a request for an extension of Rule 204-3, which mandates investment advisers to provide specific brochures and updates to clients at the start and annually during their advisory relationship. This rule aids clients in decision-making and assists the SEC in regulatory enforcement. Compliance with this rule represents a significant operational requirement for advisers.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The document outlines compliance requirements under Rule 204-3 for investment advisers, impacting how they interact with clients regarding disclosures. This affects their operational processes and client management strategies.