Restriction on associations: new rules bar depositories from associating with unpermitted advisors or return-claimants, with exceptions. Depositories and their agents are prohibited from associating, directly or indirectly, with persons who provide advice or recommendations on securities or who claim returns or performance related to securities unless such persons are registered with or permitted by the Board; associations include transactions, client referrals, IT interactions, or similar connections, while specified digital platforms with Board-approved safeguards are excluded, and investor education entities are exempt provided they do not undertake prohibited activities without permission.
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Restriction on associations: new rules bar depositories from associating with unpermitted advisors or return-claimants, with exceptions.
Depositories and their agents are prohibited from associating, directly or indirectly, with persons who provide advice or recommendations on securities or who claim returns or performance related to securities unless such persons are registered with or permitted by the Board; associations include transactions, client referrals, IT interactions, or similar connections, while specified digital platforms with Board-approved safeguards are excluded, and investor education entities are exempt provided they do not undertake prohibited activities without permission.
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