Commentary and musings on the complex, fascinating and peculiar world that is securities regulation
Friday, January 06, 2012
Texas Adopts IA Custody Rule and Amendments to Written Exam Rules
A safekeeping rule for investment advisers with custody of their clients’ funds or securities was adopted by the Texas Securities Board, together with amendments to the written examination rules for dealer principals, agents, investment advisers and investment adviser representatives. The "solicitor" definition was clarified. NOTE: A rule on advisory performance based fees remains proposed.