June 28, 2022

Ignites Speaks to Walé Oriola About SEC Crypto Custody Rules

In an article titled “SIFMA Presses SEC for Regulatory Scheme for Crypto Custody,” Ignites turned to investment management counsel and former Securities and Exchange Commission (SEC) attorney Walé Oriola for insight after the Securities Industry and Financial Markets Association (SIFMA) asked the SEC what firms must do to obtain crypto assets legally.

Oriola, who worked on a potential custody rule last fall at the commission, said the SEC hopes to update the rule to meet the changing technological and industry landscape, especially related to cryptocurrencies. “The commission has been interested in how investment advisers are meeting the current requirements under the custody rule and whether there are some gaps in the custody rule that need to be changed given the markets,” he added.

The full article is available for Ignites subscribers.

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