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Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

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Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

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Technology Solutions

Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

Learn More

Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

Learn More

Contact Us

Richey May Headquarters
9605 S. Kingston Ct. Suite 200
Englewood, CO 80112
Directions
303-721-6232

Question or comments?  Click here to fill out our inquiry form.

Technology Solutions

 

Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

Learn More

Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

Learn More

Technology Solutions

 

Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

Learn More

Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

Learn More

Contact Us

Richey May Headquarters
9605 S. Kingston Ct. Suite 200
Englewood, CO 80112
Directions
303-721-6232

Question or comments?  Click here to fill out our inquiry form.

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Richey May Headquarters
9605 S. Kingston Ct. Suite 200
Englewood, CO 80112
Directions
303-721-6232
Alternative Investment

The Custody Rule Revisited

Articles by: Richey May, May 04, 2021

In general, The Custody Rule (Rule 206(4)-2) requires that advisers custody funds and securities with a qualified custodian who sends statements to the adviser’s clients on a quarterly basis at a minimum. The rule also requires that advisers have an annual surprise examination performed by a public accounting firm that is registered with the Public Company Accounting Oversight Board Board (PCAOB) and subject to regular inspections.

The Securities and Exchange Commission (SEC), however, has provided an exemption to Advisers to Pooled Investment Vehicles. This exemption allows certain advisors to annually distribute audited financial statements that have been prepared in accordance with generally accepted accounting principles (GAAP) audited by an independent public accounting firm that is registered with, and inspected by, the PCAOB within 120 days of the close of the adviser’s year end.

If you have missed the 4/30 deadline, you still have options. Download our summary of and contact Steve Vlasak to learn more about the Custody Rule, the surprise exam requirements, and what to do if you haven’t yet met your obligations.