When is a fiduciary not required to maintain custody or control of fiduciary assets?

CFR · 2024-01-01 · US · Title 12

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.

official document · source cfr-2024 · id 12:§ 150.245