Dear Securities and Exchange Commission, I am writing to express my concerns regarding the proposed rule "Safeguarding Advisory Client Assets." While I appreciate the SEC's efforts to enhance investor protections and address gaps in the custody rule, I believe there are certain areas of the proposal that require further clarity and consideration. Firstly, I would like to highlight the lack of clarity on compliance requirements for non-custodial services. The proposal fails to provide clear guidance on how investment advisers can effectively safeguard client assets in situations where custody is not involved. This lack of clarity creates uncertainty for market participants and may hinder the development of innovative solutions that can adequately protect investor funds. Additionally, I have concerns regarding the privacy and safety associated with allowing numerous third parties to have access to my sensitive financial data and social security number. While I understand the need for transparency and regulatory oversight, it is crucial to strike a balance between investor protection and the protection of personal information. The proposal should ensure that adequate safeguards are in place to protect the privacy and security of client data. In conclusion, I believe it is essential for the SEC to provide clearer guidance on compliance requirements for non-custodial services and to address the privacy concerns associated with the proposed rule. While I support the objective of enhancing investor protections, it is crucial to consider the potential impact on market participants and ensure that the proposed regulations strike the right balance between investor security and privacy. Thank you for considering my comments. I appreciate the opportunity to provide input on this important issue. Sincerely, Anonymous