---
kind: "section"
citation: "12 C.F.R. § 150.245"
title: "12"
number: "150.245"
heading: "When is a fiduciary not required to maintain custody or control of fiduciary assets?"
url: "https://uscodex.org/cfr/12/150.245"
---

# §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)](/cfr/12/9.101.md?p=a) of this chapter, and have no other fiduciary capacity as enumerated in [§ 150.30](/cfr/12/150.30.md), you are not required to maintain custody or control of fiduciary assets as set forth in [§ 150.220](/cfr/12/150.220.md) or [§ 150.240](/cfr/12/150.240.md).


## Notes

### 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]