Federal Register #2026-20466

SEC proposal to update custody rules for crypto assets held by investment advisers and regulated funds

The Securities and Exchange Commission (SEC) is proposing updated custody rules for crypto assets held by investment advisers and regulated funds. - Government buyer: SEC; no sub-agency or purchasing office is identified. - Proposal: Establish new Investment Company Act custody rules for crypto securities and similar investments, and amend Advisers Act custody requirements for client crypto funds and securities. - Related updates: Modernize custody, reporting, and recordkeeping rules; redesignate the Advisers Act custody rule; and update Forms ADV, ADV-E, and N-CEN, including questions about tokenized private funds and regulated investment company shares. - Procurement status: This is a regulatory proposal, not a solicitation for products or services. No OEMs, vendors, products, quantities, or part numbers are identified.

Description

The Securities and Exchange Commission proposes new custody rules under the Investment Company Act addressing custody of crypto securities and similar investments by regulated investment companies, and amendments to the Advisers Act custody rule regarding registered investment advisers’ custody of client crypto funds and securities. The proposal would modernize existing custody requirements and amend related reporting and recordkeeping rules. It would also redesignate the Advisers Act custody rule, make corresponding changes to Forms ADV and ADV-E, and revise Forms ADV and N-CEN disclosures, including adding questions about tokenized private funds and regulated investment company shares. Comments are due December 7, 2026.

View original listing