Title 15, Commerce and TradeRelease 119-102
§80b–18b Custody of Client Accounts
Title 15 › CHAPTER 2D — INVESTMENT COMPANIES AND ADVISERS › SUBCHAPTER II — INVESTMENT ADVISERS › § 80b–18b
Summary
Registered investment advisers must protect client assets they hold, including independent audits the Commission requires.
Full Legal Text
Title 15, §80b–18b
Commerce and Trade, Source: USLM XML via OLRC
An investment adviser registered under this subchapter shall take such steps to safeguard client assets over which such adviser has custody, including, without limitation, verification of such assets by an independent public accountant, as the Commission may, by rule, prescribe.
Legislative History
Notes & Related Subsidiaries
Statutory Notes and Related Subsidiaries
Effective Date
Section effective 1 year after July 21, 2010, except that any investment adviser may, at the discretion of the investment adviser, register with the Commission under the Investment Advisers Act of 1940 during that 1-year period, subject to the rules of the Commission, and except as otherwise provided, see section 419 of Pub. L. 111–203, set out as an
Effective Date
of 2010 Amendment note under section 80b–2 of this title.
Reference
Citations & Metadata
Citation
15 U.S.C. § 80b–18b
Title 15, Commerce and Trade
Last Updated
Aug 21, 2026
Release point: 119-102