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Comments on Custody Rule and Definition of Small Business Pursuant to Regulatory Flexibility Act Review

The IAA urged the SEC to update the definition of “small business” under the Advisers Act and better tailor its regulations for smaller advisers. The Custody Rule was included in the list of rules to be reviewed under the Regulatory Flexibility Act, and the IAA described the rule as overly complex, unduly burdensome, and causing unnecessary confusion.

December 27, 2018

Keywords: Custody, Smaller Advisers

Categories & Topics: Compliance, Custody

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