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SEC Proposed Amendment to the Investment Adviser Custody Rule |
August 12, 2004
Previously published on August 15, 2002
On July 18, 2002, the Securities and Exchange Commission ("SEC") issued a release
proposing to amend (the "Proposed Amendment") Rule 206(4)-2 (the "Rule") under the
Investment Advisers Act of 1940 (the "Advisers Act"). The Rule currently requires an
investment adviser that has custody of client funds or securities to deposit client funds in bank
accounts and to segregate and identify client securities and hold them in safekeeping.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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