1
Table of Contents
Digest November 24th
SEC Grants No‑Action Relief Letting Advisers Use State‑Chartered Trusts for Crypto Custody
The SEC granted no‑action relief that allows registered investment advisers and certain funds to treat state trust companies as “banks” for purposes of holding crypto assets and associated cash—subject to conditions.
SEC & CFTC Extend Deadline for Form PF Amendments
The Securities and Exchange Commission and the Commodity Futures Trading Commission pushed the compliance date for recent Form PF amendments to October 1, 2026, giving advisers more time to adjust.
SEC Press Release – “SEC and CFTC Extend Form PF Compliance Date to Oct. 1, 2026” SEC+1
Independent Advisor Shortage Tightens Competition for Talent
Demand for wealth management services continues to grow, but the industry faces a looming shortage of qualified advisors. Firms must rethink recruiting, retention, and training to remain competitive.
McKinsey – “The looming advisor shortage in US wealth management” McKinsey & Company