Friday, December 18, 2009


SEC tightens rules on investment advisors

The U.S. Securities and Exchange Commission has adopted rules designed to reduce the possibility of fraud or theft of client assets by an investment advisor.

The SEC said that the rule changes will substantially increase protection for investors who turn their money and securities over to an investment advisor that maintains physical custody of those assets. Most advisors don’t retain custody of their clients’ assets, the SEC says, but over the past year, it has brought a series of enforcement cases against advisors who had access to their clients’ assets and misused them...

Investment Executive: SEC tightens rules on investment advisors

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