12 CFR 150.245
§ 150.245 When is a fiduciary not required to maintain custody or control of fiduciary assets?
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 150.245, § 150.245 When is a fiduciary not required to maintain custody or control of fiduciary assets?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43728
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Full text
If you are deemed a fiduciary based solely on your capacity as investment advisor, as that capacity is defined in § 9.101(a) of this chapter, and have no other fiduciary capacity as enumerated in § 150.30, you are not required to maintain custody or control of fiduciary assets as set forth in § 150.220 or § 150.240.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.