Oct. 12, 2023
This is re: https://www.federalregister.gov/documents/2023/08/30/2023-18667/safeguarding-advisory-client-assets-reopening-of-comment-period#addresses Since the SEC's purview is, true to its name, securities, the SEC should not be expanding its authority to cover commodities. However, in fact in this proposed rule, it is proposed to widen scope from "pooled investment vehicle" clients to "any other entity". "Any other entity" could mean commodities, or an automated tool that merely aggregates and disburses commodities. As such, the proposal should be withdrawn or reconstructed.