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Securities Compliance Podcast: Compliance in Context

Season 4 Episode 3

In Season 4 Episode 3 of the Securities Compliance Podcast: Compliance in Context, host Patrick D. Hayes, and guests Issa Hanna and Genna Garver, take an in-depth look at the SEC’s new Custody rule proposal and the impact of these new requirements on investment advisers, broker-dealers, and custodians. In the Headlines section, they examine the new Cybersecurity rule proposal (also known as Rule 10) and the new proposed amendments to Reg S-P. And finally, the group wraps up the show with another installment of History Has Your Back, where in honor of Women’s History month, they look at a legendary Greek physician who helps show us how women have been breaking down barriers across the centuries.


Interview with Issa Hanna and Genna Garver

  • History and background of the Custody Rule and recent developments

  • What are the specifics of the rulemaking?

  • Review of the scope of assets covered under the rule proposal

  • How are real estate assets treated?

  • What is the scope of activities covered?

  • What is the impact on managers that have discretionary authority?

  • Review of the written agreement and attestation requirements

  • What is the real cost of compliance here?

  • What does this rule tell us from a policy perspective about the focus of the SEC in this area?

History Has Your Back

  • The legend of the Greek physician Agnodice

  • Celebrating women in the investment management space


17:20 – “I think one of the major things that they’re doing here as a part of this rule–or this rule proposal–is to bring the guidance that’s been scattered all over the place, within the text of the rule. So everyone knows where to find everything. It’s all accessible. That is something that everybody should welcome, right? Regulators should make the rules and make the guidance as accessible to everyone as possible.” – Issa Hanna

44:21 – “I just think that there is this misconception that the assets we’re talking about have to be the assets that they’re providing investment advice on. And it’s much broader than that, even under the current rule, so I think that’s something to look out for.” – Genna Garver

About the Securities Compliance Podcast: Compliance in Context

Introducing the Securities Compliance Podcast: Compliance in Context presented by Calfee, Halter & Griswold and the National Society of Compliance Professionals and hosted by Patrick D. Hayes, Partner and leader of Calfee's Investment Management practice.

Designed as a personal master class for the securities legal and compliance professional, this podcast embodies Patrick’s passion to help you put Compliance In Context™ by combining the technical expertise of industry thought leaders and innovators with the practical experience of doers and key decision makers.

Listeners will find the podcast on Apple Podcast, Google Podcast, Spotify and Stitcher.

The opinions expressed by guest speakers and panelists during Securities Compliance Podcasts may not necessarily reflect the viewpoints of the attorneys and professionals of Calfee, Halter & Griswold LLP or its subsidiaries or affiliates. Calfee’s educational content is intended to inform and educate readers about legal developments and is not intended as legal advice for any specific individual or specific situation. Please consult with your attorney regarding any legal questions you may have. With regard to all content including case studies or descriptions, past outcomes do not predict future results.


Media Contact

Susan M. Kurz
Chief Marketing & Client Development Officer
216.622.8346 (office)
513.502.8950 (mobile)

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