Alerts

Registered Investment Advisers Required to Provide Notifications of Changes to Custody Arrangements

September 30, 2008

We remind our investment adviser clients who are registered or required to register with the U.S. Securities and Exchange Commission pursuant to the Investment Advisers Act of 1940, as amended (the “Advisers Act”) that, pursuant to Rule 206(4)-2(a)(2) under the Advisers Act, they must promptly notify their clients upon the opening of any custodial account with a qualified custodian. Such notice requires that the registered investment adviser notify the client of the custodian’s name and address as well as the manner in which the client’s funds or securities are maintained by the qualified custodian. In addition, if there is any change in the information provided in the notification, the adviser must notify the client of such changes.