Item 1: Shortening the Settlement Cycle

Office: Division of Trading and Markets

Staff: Haoxiang Zhu, David Saltiel, Andrea Orr, Jeffrey Mooney, Matthew Lee, Susan Petersen, Andrew Shanbrom, Jesse Capelle, Mary Ann Callahan, from the Division of Trading and Markets; Melissa Roverts Harke, Jennifer Porter, Holly Miller, Amy Miller, from the Division of Investment Management

The Commission will consider whether to adopt rules and rule amendments under the Securities Exchange Act of 1934 to shorten the standard settlement cycle for most securities transactions.  The proposed rules and rule amendments would be applicable to broker-dealers and certain clearing agencies. The Commission also will consider whether to adopt rule amendments under the Investment Advisers Act of 1940 to require investment advisers to maintain certain related records.

For further information, please contact Matthew Lee, Division of Trading and Markets, at (202) 551-5794.

Item 2: Safeguarding Advisory Client Assets

Office: Division of Investment Management

Staff: William A. Birdthistle, Sarah ten Siethoff, Melissa Roverts Harke, Christopher Staley, Shane Cox, Laura Harper Powell, Michael Schrader, Samuel Thomas, Holly H. Miller

The Commission will consider whether to propose to amend and redesignate rule 206(4)-2 under the Investment Advisers Act of 1940 (“Advisers Act”) related to the safeguarding of client assets. The Commission also will consider proposing corresponding amendments to the investment adviser recordkeeping rule and to Form ADV under the Advisers Act. 

For further information, please contact Melissa Roverts Harke or Christopher Staley, Division of Investment Management, at (202) 551-6792.