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On Oct. 1, 2026, the U.S. Securities and Exchange Commission proposed new rules and amendments creating a tailored custody framework for crypto assets held by registered investment advisers and regulated funds, including registered investment companies and business development companies. The proposal updates custody-related requirements under the Investment Advisers Act of 1940 and the Investment Company Act of 1940, and would permit certain forms of self-custody and the use of state trust companies as custodians.
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