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If an IA has client funds in custody what must be sent to the SEC and a copy to the client?

User Toojays
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1 Answer

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Final answer:

If an IA has client funds in custody, they must send a Form ADV Part 1A to the SEC and a copy to the client.

Step-by-step explanation:

If an Investment Advisor (IA) has client funds in custody, they are required to send a Form ADV Part 1A to the Securities and Exchange Commission (SEC). This form provides information about the IA's business, including details about custody of client funds. A copy of the Form ADV Part 1A must also be sent to the client.

User Mohit Solanki
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