§150.245. When is a fiduciary not required to maintain custody or control of fiduciary assets?
12 C.F.R. § 150.245
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.
Notes, amendments, and revision history
Amendments
[82 FR 8109, Jan. 23, 2017]
Authority
Authority: 12 U.S.C. 1462a, 1463, 1464, 5412(b)(2)(B).
Source
Source: 76 FR 49003, Aug. 9, 2011, unless otherwise noted.
Amendments
[82 FR 8109, Jan. 23, 2017]