{"description":"Documents matching '\"Staff Accounting Bulletin No. 121\"'","count":4,"total_pages":1,"results":[{"title":"Staff Accounting Bulletin No. 122","type":"Rule","abstract":"This staff accounting bulletin (\"SAB\") rescinds the interpretive guidance included in Section FF of Topic 5 in the Staff Accounting Bulletin Series entitled Accounting for Obligations to Safeguard Crypto-Assets an Entity Holds for its Platform Users (\"Topic 5.FF\").","document_number":"2025-01864","html_url":"https://www.federalregister.gov/documents/2025/01/30/2025-01864/staff-accounting-bulletin-no-122","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-01-30/pdf/2025-01864.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-01864.pdf?1738158307","publication_date":"2025-01-30","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":" 77g, 15 U.S.C. 77s(a), 15 U.S.C. 77aa(25) and (26), 15 U.S.C. 78c(b), 15 U.S.C. 78\n l \n (b), 15 U.S.C. 78m(b), 15 U.S.C. 80a-8, 15 U.S.C. 80a-29(e), 15 U.S.C. 80a-30, and 15 U.S.C. 80a-37.\n \n \n \n \n 2. Amend the table in subpart B by removing the entry for “<span class=\"match\">Staff Accounting Bulletin No. 121</span>” and adding an entry for “Staff Accounting Bulletin No. 122” at the end of the table to read as follows: \n \n Subpart B—Staff Accounting Bulletins \n \n \n   \n \n Subject \n Release No. \n Date \n \n Fed. Reg. Vol.\n and page \n \n \n \n   \n \n \n *         *         *     "},{"title":"Staff Accounting Bulletin No. 121","type":"Rule","abstract":"This staff accounting bulletin expresses the views of the staff regarding the accounting for obligations to safeguard crypto- assets an entity holds for platform users.","document_number":"2022-07196","html_url":"https://www.federalregister.gov/documents/2022/04/11/2022-07196/staff-accounting-bulletin-no-121","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2022-04-11/pdf/2022-07196.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2022-07196.pdf?1649421916","publication_date":"2022-04-11","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"entry for <span class=\"match\">Staff Accounting Bulletin No. 121</span> at the end of the table to read as follows: \n \n Subpart B—Staff Accounting Bulletins \n \n \n   \n \n Subject \n Release No. \n Date \n Fed. Reg. vol. and page \n \n \n   \n \n \n *         *         *         *         *         *         * \n \n \n Publication of <span class=\"match\">Staff Accounting Bulletin No. 121</span> \n SAB121 \n April 11, 2022 \n \n [INSERT \n FEDERAL REGISTER \n CITATION].\n \n \n \n \n Note: \n The text of <span class=\"match\">Staff Accounting Bulletin No. 121</span> will not appear in the Code of Federal Regulations. \n \n <span class=\"match\">Staff Accounting Bulletin No. 121</span> \n The"},{"title":"Adviser and Regulated Fund Custody Rules; Crypto Custody Rules","type":"Proposed Rule","abstract":"The Securities and Exchange Commission (the \"Commission\" or the \"SEC\") is proposing new custody rules under the Investment Company Act of 1940 (the \"Investment Company Act\") and amendments to related reporting and recordkeeping requirements to address how regulated investment companies may custody crypto securities and similar investments, and amendments to the custody rule and related reporting and recordkeeping rules under the Investment Advisers Act of 1940 (the \"Advisers Act\") to address how registered investment advisers may custody client crypto funds and securities. We are also proposing to amend the current custody rules to modernize their requirements, to better address current industry practices and feedback, and to implement certain conforming amendments. We are also proposing amendments to the recordkeeping rules under the Investment Company Act and Advisers Act related to these proposed modernization amendments to the custody rules. Additionally, we are proposing to redesignate the custody rule under the Advisers Act and to make corresponding amendments to Form ADV and Form ADV-E for registered investment advisers to reflect the Advisers Act custody rule redesignation. We are also proposing amendments to Form ADV for registered investment advisers and Form N-CEN for regulated investment companies and to improve the quality of public disclosures made on these forms. We are also proposing to add new questions to Form ADV and Form N-CEN related to tokenized private funds and regulated investment company shares, respectively.","document_number":"2026-20466","html_url":"https://www.federalregister.gov/documents/2026/10/06/2026-20466/adviser-and-regulated-fund-custody-rules-crypto-custody-rules","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-10-06/pdf/2026-20466.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-20466.pdf?1791204319","publication_date":"2026-10-06","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"43 \n \n subsequent guidance was interpreted by market participants to restrict the ability of banks to offer crypto asset custodial services, due to the conditions with which a bank would have to comply.\n 44 \n \n Further, in March 2022, Commission staff issued <span class=\"match\">Staff Accounting Bulletin No. 121</span>, which provided that, in the staff's view, it would be appropriate for entities with an obligation to safeguard crypto assets to record a safeguarding liability and corresponding asset on its balance sheet measured at the fair value of the crypto asset.\n 45 "},{"title":"Safeguarding Advisory Client Assets","type":"Proposed Rule","abstract":"The Securities and Exchange Commission (\"Commission\" or \"SEC\") is proposing a new rule under the Investment Advisers Act of 1940 (\"Advisers Act\" or \"Act\") to address how investment advisers safeguard client assets. To effect our redesignation of the current custody rule for the proposed new safeguarding rule, we are proposing to renumber the current rule. In addition we are proposing to amend certain provisions of the current custody rule for enhanced investor protections. We also are proposing corresponding amendments to the recordkeeping rule under the Advisers Act and to Form ADV for investment adviser registration under the Advisers Act.","document_number":"2023-03681","html_url":"https://www.federalregister.gov/documents/2023/03/09/2023-03681/safeguarding-advisory-client-assets","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2023-03-09/pdf/2023-03681.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2023-03681.pdf?1678283116","publication_date":"2023-03-09","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"at: https://openknowledge.worldbank.org/bitstream/handle/10986/29053/WP-PUBLIC-Distributed-Ledger-Technology-and-Blockchain-Fintech-Notes.pdf?sequence=1&amp;isAllowed=y. \n \n \n \n \n 27 \n  We note that our staff has expressed a similar view. \n See, e.g., \n SEC <span class=\"match\">Staff Accounting Bulletin No. 121</span>, [87 FR 21016 (Apr. 11, 2022)] (generally describing risks related to the safeguarding of crypto assets); Custody of Digital Asset Securities by Special Purpose Broker-Dealers, \n supra \n footnote 25 (generally discussing risks related to broker-dealer custody"}]}