Custody of customer assets
Custody of customer assets in the Technology, AI and Competition sector is no longer a peripheral compliance question. The U.S. Securities and Exchange Commission's 2023 proposed Safeguarding Rule expansion and the European Securities and Markets Authority's ongoing guidance on digital asset custody have pushed fintech platforms, AI-driven trading tools, and marketplace operators into direct regulatory scope. Legal and compliance teams are now pressure-testing whether their asset-holding arrangements, API integrations with third-party custodians, and terms of service actually satisfy segregation requirements under applicable law.
Watch
- SEC proposed Safeguarding Rule: extended custody definitions that may capture AI-adjacent platforms
- ESMA digital asset custody guidance and how it interacts with MiCA implementation timelines
- State-level money transmission licenses being applied to crypto custody by technology firms
- FTC scrutiny of data-as-asset custody claims in AI training dataset agreements
Recent material activity in Technology, AI & Competition
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NIST releases updated AI Risk Management Framework companion guide for critical infrastructure
NIST published AI RMF 1.1 companion guidance specifically addressing AI deployment in critical infrastructure sectors including energy, financial services, and healthcare. The guide introduces mandatory risk assessment c…
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