“The proposal takes up Congress’s 2010 provision for us to increase the custody rule to cowl all of an investor’s belongings, not simply their funds or securities. Congress granted us new authorities to increase the custody rule in response to the monetary disaster and Bernie Madoff’s frauds. The expanded custody rule would assist be certain that advisers don’t inappropriately use, abuse, or lose traders’ belongings,” Gensler mentioned in his remarks.
