• The SEC's Proposed Custody Rule Changes an Analysis of the Impact on Hedge Fund Managers
  • July 8, 2009 | Authors: Terrance J. O'Malley; Jessica Forbes
  • Law Firm: Fried, Frank, Harris, Shriver & Jacobson LLP - New York Office
  • The SEC recently voted to propose changes to the Advisers Act custody rule. The SEC initiated this action with the intention of providing additional safeguards when an adviser has custody of client assets. The proposed changes follow a series of recent enforcement actions involving alleged misappropriation or other misuse of client assets.