Custody Rule Examinations

In December 2009, the SEC approved the custody rule of the Investment Advisers Act of 1940, requiring that advisers deemed to have custody of client funds or securities undergo an annual surprise examination. In addition to a surprise examination, you may need an internal control report if custody of client funds and securities are held by a “related person,” such as a trust department.

Whitley Penn is registered with and inspected by the PCAOB and performs annual surprise custody examinations of registered investment advisers. We also have significant experience counseling investment advisors on the application of the custody rule. Our level of specialization and efficiency allows us to offer an attractive, cost effective solution to RIAs.

If you have any questions regarding custody examinations, please contact our Risk Advisory team.