Custody & broker-dealer framework

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Paul Atkins criticised the SEC’s prior policy on custody accounting, arguing that Staff Accounting Bulletin 121 caused confusion and represented regulatory overreach by bypassing proper rulemaking procedures

Paul Atkins, chairman of the SEC, emphasised that the agency will revise custody rules to permit self-custody by advisers and funds where appropriate

Paul Atkins, chairman of the SEC, stated that the agency may repeal and replace the special purpose broker-dealer framework, arguing that current restrictions have limited adoption and discouraged innovation

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