{"id":1224,"date":"2013-04-03T21:40:36","date_gmt":"2013-04-03T21:40:36","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/04\/sec_ocie_finds_custodyrelated"},"modified":"2022-03-10T16:33:35","modified_gmt":"2022-03-10T22:33:35","slug":"sec-ocie-finds-custodyrelated","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-ocie-finds-custodyrelated\/","title":{"rendered":"SEC OCIE Finds Custody-Related Deficiencies Involving Investment Advisers"},"content":{"rendered":"

\t\t\t\tAccording to the Securities and Exchange Commission Office of Compliance Inspections and Examinations, it discovered “significant deficiencies” related to custody issues with a third of the investment advisers that it examined, including: <\/p>\n

\u2022\tFailure of an investment adviser to recognize when it has custody \u2022\tFailure to satisfy the rule’s surprise exam requirements \u2022\tFailure to fulfill the rule’s qualified custodian requirements <\/p>\n

Custody by investment advisers refers either to the holding of securities or client funds or the authority to possess them, including the power of attorney to get securities or funds from client accounts. The 1940 Investment Advisers Act’s Rule 206(4)-2 regarding custody prescribes specific requirements for client asset safety.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

According to the Securities and Exchange Commission Office of Compliance Inspections and Examinations, it discovered “significant deficiencies” related to custody issues with a third of the investment advisers that it examined, including: \u2022 Failure of an investment adviser to recognize when it has custody \u2022 Failure to satisfy the rule’s surprise exam requirements \u2022 Failure […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3781,3801,3760],"tags":[],"class_list":["post-1224","post","type-post","status-publish","format-standard","hentry","category-investment-advisers","category-sec","category-sec-enforcement"],"yoast_head":"\nSEC OCIE Finds Custody-Related Deficiencies Involving Investment Advisers — Investor Lawyers Blog — April 3, 2013<\/title>\n<meta name=\"description\" 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