WebbIn an effort to provide premium service to clients, it’s common for financial advisors to be granted a standing letter of authorization – or “SLOA” – to enact money movements in and out of a client’s account. The use of SLOAs and other disbursement authorizations effectively allows advisors to act based on a client’s verbal… WebbA no-action letter to the Investment Adviser Association (IAA), providing relief from the Custody Rule with respect to certain standing letters of authorization or similar arrangements authorizing ...
SEC Responds to No-Action Relief from the Custody Rule for Advisers …
Webb14 mars 2024 · The Investment Adviser Association (IAA) submitted a request asking whether an adviser has custody under Rule 206-(4)-2 (“Custody Rule”) of Advisers Act when acting pursuant to a standing... Webb16 mars 2024 · In a recent response to the Investment Adviser Association, the SEC’s Division of Investment Management has issued a no-action letter stating that Registered … eco advanced ink finity
Standing Letters of Authorization (SLOA), the SEC Custody Rule, and
WebbBNY Mellon, N.A. (“BNY Mellon”) makes the following representations related to the February 21, 2024, Securities and Exchange Commission (“SEC”) No-Action Letter … WebbStanding Letters of Authorization (SLOA) that Registered Investment Advisers use to provide services for their clients have been surrounded by uncertainty. Does this practice … Webb6 sep. 2024 · If any form of an asset transfer authorization letter has been provided by the client, then advisers should ensure that it captures detailed destination account information. If the letter authorizes the adviser to conduct third-party money movement, then the adviser must be prepared to meet the Custody Rule requirements or the seven … eco-advantages: a new dimension of advantages