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SEC

RIN: 3235-AN46

Publication ID: 2026

Title: Amendments to the Custody Rules
Abstract: The Division is considering recommending that the Commission propose amendments to existing rules and/or propose new rules under the Investment Advisers Act of 1940 and the Investment Company Act of 1940 to improve and modernize the regulations around the custody of advisory client and fund assets, including to address in each case crypto assets.
Agency: Securities and Exchange Commission(SEC)	Priority: Economically Significant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: Undetermined	Unfunded Mandates: No
EO 14192 Designation: Deregulatory
CFR Citation: Not Yet Determined (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 15 U.S.C. 80a-6(c) 15 U.S.C. 80a-17(f) 15 U.S.C. 80a-37 15 U.S.C. 80b-4 15 U.S.C. 80b-6(4) 15 U.S.C. 80b-11 15 U.S.C. 80b-3(c)(1) 15 U.S.C. 80b-18b

Legal Deadline: None

Statement of Need:

This proposed rules and rule amendments would improve and modernize the regulations around custody of investment adviser client assets and fund assets, including to address crypto assets. Currently, investment advisers and investment companies have raised questions about how to hold crypto assets in compliance with the current Commission custody requirements. This rulemaking would clarify the framework for the custody of crypto assets for investment adviser and investment companies, as well as make other modernizations needed to remove burdens from certain outdated provisions that are no longer needed to provide investor protection given the evolution in the markets and security trading and holding practices.

Anticipated Costs and Benefits:

The Commission will evaluate the anticipated costs and benefits and other economic effects as it develops the proposed rule.

Timetable:

Action	Date	FR Cite
NPRM	10/00/2026

Regulatory Flexibility Analysis Required: YES	Government Levels Affected: None
Small Entities Affected: Businesses	Federalism: No
Included in the Regulatory Plan: Yes
RIN Data Printed in the FR: Yes
Agency Contact: Samuel Thomas Division of Investment Management Securities and Exchange Commission 100 F St NE, Washington, DC 20549 Phone:202 551-7952 Email: thomassa@sec.gov