Commissioner Invites Comments On Adopting New Custody Rule

Investment advisers frequently have custody, either directly or indirectly, of their clients’ assets.  Obviously, custody of another’s assets can lead to infidelity.  In the word’s of the satirist Juvenal, the question necessarily becomes “sed quis custodiet ipsos custodes? (but who shall guard the guards?). In the case of registered investment advisers, securities regulators are the