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Safeguards Rule Registered Investment Advisors

Goodwin

Our Comments on the SEC’s Proposed Safeguarding Rule

Goodwin on

On February 16, 2023, we circulated a client alert, “SEC Proposes Radical Transformation of Custody Rule Into New Safeguarding Rule,” concerning the proposed significant transformation of Rule 206(4)-2 (the Custody Rule)...more

Goodwin

SEC to Impose Significant New Privacy and Cybersecurity Rules for BDs, RIAs, TAs, and Mutual Funds

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The SEC continues its overhaul of cybersecurity, cyber incident reporting, and privacy controls and requirements for industry registrants, their services providers, and corporate America generally. On March 15, 2023, the SEC...more

Tannenbaum Helpern Syracuse & Hirschtritt LLP

How the SEC’s Proposed New Safeguarding Rule May Impact Private Fund Advisers

On February 15, 2023, the U.S. Securities and Exchange Commission (“SEC”) issued a proposed rule (the “Proposal”) under the Investment Advisers Act of 1940 (the “Advisers Act”), which would (i) amend certain provisions of the...more

Lowenstein Sandler LLP

SEC Proposes to Redesignate Custody Rule as New Safeguarding Rule Under the Investment Advisers Act

On February 15, the Securities and Exchange Commission (“SEC”) issued a rule release (“Release” or “Proposal”) that proposes new Rule 223-1 (“Safeguarding Rule”) under the Investment Advisers Act of 1940, as amended...more

Hogan Lovells

SEC proposes overhaul of ‘custody rule’ to include all assets as part of new ‘safeguarding rule’

Hogan Lovells on

The U.S. Securities and Exchange Commission (SEC) proposed broad changes to Advisers Act Rule 206(4)-2, popularly known as the “custody rule,” on February 15, 2023. The amendments would create a new Rule 223-1 that would...more

Perkins Coie

SEC Spotlights Crypto With New “Safeguarding Rule” Proposal

Perkins Coie on

On February 15, 2023, the U.S. Securities and Exchange Commission (SEC) published sweeping and controversial proposed amendments to Rule 206(4)-2 (Custody Rule) under the Investment Advisers Act of 1940 (Advisers Act). Last...more

Goodwin

Digital Asset Custody and the SEC’s Proposed Safeguarding Rule: Significant Potential Implications and Unanswered Questions

Goodwin on

On February 15, 2023, the Securities and Exchange Commission (SEC) released a proposed rulemaking (the Proposal) that would transform existing Rule 206(4)-2 (the Custody Rule) under the Investment Advisers Act of 1940 (the...more

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