top of page
  • Writer's pictureDeborah

Published on October 26, 2022 by the Securities and Exchange Commission (SEC), the Proposed Rule and related amendments will prohibit SEC-registered investment advisers from outsourcing certain services or functions to service providers without meeting minimum requirements.


The Proposed Rule requires registered investment advisers to:

  • Conduct due diligence before outsourcing and to periodically monitor service providers’ performance. Advisers will also have to reassess whether to retain their service providers.

  • Adopt and implement internal processes and/or systems for making and/or keeping records that meet the requirements of the recordkeeping rule applicable to the books and records being maintained on behalf of the adviser.

  • Make and/or keep books and records related to the due diligence and monitoring requirements.

  • Provide access to electronic records.

  • Ensure the continued availability of records if the third party’s relationship with the adviser or its operations cease.



Recent Posts

See All

Virtual Assets (VAs) or crypto assets refer to : “any digital representation of value that can be digitally traded, transferred or used for payment. It does not include digital representation of fiat

10 Aug 2023 - Deadline to submit comments to FCA Guidance Consultation (GC23/1) on crypto asset financial promotions. 5 Sep 2023 - Effective date of SEC Cybersecurity Risk Management, Strategy, Govern

bottom of page