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More News on Custody Rule & Custodians

Apparently Fidelity is putting together a response to the “due inquiry” requirement regarding the delivery of account statements. Somehow Fidelity believes that because they are a qualified custodian that the adviser does not need to get copies of the account statement. I ask you, did Fidelity’s lawyers actually go to law school? The rule is 100% clear as to an adviser’s responsibilities. No where does it state that the qualified custodian can take responsibility for the adviser’s due inquiry.

This entry was posted on Friday, March 5th, 2010 at 10:48 am and is filed under Custody. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

5 Responses to “More News on Custody Rule & Custodians”

  1. Kylie BattName says:
    April 11, 2010 at 10:57 am

    Абсолютно с Вами согласен. В этом что-то есть и это хорошая идея. Я Вас поддерживаю….

    I ask you, did Fidelity’s lawyers actually go to law school? The rule is […….

  2. Kylie Batt says:
    April 20, 2010 at 7:38 pm

    Конечно. Я присоединяюсь ко всему выше сказанному. Можем пообщаться на эту тему….

    Apparently Fidelity is putting together a response to the “due inquiry” requirement regarding the delivery of account statements…..

  3. Kylie Batt says:
    May 4, 2010 at 6:01 pm

    Извините за то, что вмешиваюсь: У меня похожая ситуация. Приглашаю к обсуждению….

    I ask you, did Fidelity’s lawyers actually go to law school? The rule is […….

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