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SEC RIN: 3235-AM32 Publication ID: Fall 2024 
Title: Safeguarding Advisory Client Assets 
Abstract:

The Division is considering recommending that the Commission repropose amendments to existing rules and/or adopt new rules under the Investment Advisers Act of 1940 to improve and modernize the regulations around the investment advisers’ safeguarding of client assets. The Division is considering recommending that the Commission adopt amendments related to certain of the custody rule’s provisions, including the audit, notice, and surprise examination provisions, and the treatment of standing letters of authorization under the rule, as well as related amendments to the recordkeeping rule and to Form ADV under the Advisers Act.

 
Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 17 CFR 275.223-1    17 CFR 275.204-2   
Legal Authority: 15 U.S.C. 80b-4    15 U.S.C. 80b-6(4)    15 U.S.C. 80b-11(a)    15 U.S.C. 80b-3(c)(1)    15 U.S.C. 80b-18b    15 U.S.C. 80b-11    15 U.S.C. 80b-23   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  03/09/2023  88 FR 14672   
NPRM Comment Period End  05/08/2023 
NPRM Comment Period Reopened  08/30/2023  88 FR 59818   
NPRM Comment Period Reopened End  10/30/2023 
Second NPRM  04/00/2025 
Regulatory Flexibility Analysis Required: YES  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: Yes 
Agency Contact:
Christopher Staley
Branch Chief, Division of Investment Management
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-8475
Email: staleyc@sec.gov