12 CFR 150.245 - When is a fiduciary not required to maintain custody or control of fiduciary assets?

Regulations last checked for updates: Oct 17, 2024

Title 12 - Banks and Banking last revised: Oct 15, 2024

View all text of Subpart B [§ 150.130 - § 150.480]

§ 150.245 - When is a fiduciary not required to maintain custody or control of fiduciary assets?

If you are deemed a fiduciary based solely on your capacity as investment advisor, as that capacity is defined in § 9.101(a) of this chapter, and have no other fiduciary capacity as enumerated in § 150.30, you are not required to maintain custody or control of fiduciary assets as set forth in § 150.220 or § 150.240.

[82 FR 8109, Jan. 23, 2017]

authority: 12 U.S.C. 1462a,1463,1464,5412

source: 76 FR 49003, Aug. 9, 2011, unless otherwise noted.

cite as: 12 CFR 150.245