The SEC is warning advisers that it is increasingly finding violations of the custody rule, which is designed to protect advisory clients from the misuse or misappropriation of their funds and securities. In fact, a review of recent examinations that contained significant deficiencies revealed that approximately one-third (over 140) included custody-related issues.
According to the SEC Risk Alert, the custody-related deficiencies can be grouped into four categories:
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.