On November 4^th, AIMA joined 6 other trade associations in a joint letter asking the SEC to extend the comment period for its proposed Adviser and Regulated Fund Custody Rules and Crypto Custody Rules.

The letter makes the following points:

• We welcome the Commission’s efforts to modernize the custody framework for funds and advisers, including the new framework for the custody of crypto assets.
• The proposal raises many complex and technical questions and includes more than 300 specific requests for comment.
• Several other significant SEC proposals have overlapping comment periods, and many of the same people are reviewing all of them.
• We request that the SEC extend the December 7, 2026, comment deadline by 45 calendar days so members can give substantive, constructive feedback.

In terms of next steps, AIMA will continue to engage with members on its response to the proposal and will provide an update if the SEC grants the extension.

If you have any questions, please contact James Delaney ([email protected])