Digest November 17th

SEC Staff Grants No‑Action Relief for Use of State‑Chartered Trusts in Digital Asset Custody

The SEC staff recently issued no‑action relief that allows advisers and funds to use state‑chartered trust companies for safekeeping digital assets, under a principles‑based framework rather than prescribing specific technology requirements.
Sidley – “SEC Staff Issues No‑Action Relief Permitting Use of State‑ Char‑ tered Trust Companies”

SEC Considers Raising the Minimum AUM Threshold for Registration

Officials have floated increasing the required assets under management (AUM) threshold for advisers to register with the SEC, aiming to reduce regulatory burden on smaller firms and streamline oversight.
Regulatory & Compliance – “SEC Evaluating an Increase in Minimum AUM Threshold for Investment Adviser Registration”

Only 41% of Americans Use a Financial Advisor — and Younger Adults Lag Far Behind

A recent Northwestern Mutual / Gallup / Investopedia‑based study finds that just 41% of U.S. adults work with a financial advisor—and among younger generations (ages 18–29), the rate drops to 27%. This widening engagement gap presents both a challenge and opportunity for advisors.
Investopedia – “Only 41% of Americans Use a Financial Advisor”