The public comment period will remain open for 60 days following publication of the proposing release in the Federal Register. The SEC has sent additional proposed rulemaking relating to custody and performance-based fees to the Office of Management and Budget for review, and these proposals should be published in the coming weeks. [1] “Political Contributions by Certain Investment Advisers” (September 3, 2026), Release No. IA-6994. [2] See SEC Chairman Mary Schapiro, “Opening Statement at the SEC Open Meeting” (June 30, 2010). [3] See SEC, Fact Sheet, “Rescission of Political Contribution Rule for Investment Advisers” (September 3, 2026); see also SEC Commissioner Mark Uyeda, “Statement on Proposed Rescission of Rule 206(4)-5 under the Investment Advisers Act” (September 3, 2026). [4] While the SEC suggests an investment adviser could include provisions to address local, state and other federal laws, Rule 206(4)-7 only requires policies and procedures to be reasonably designed to prevent violations of the Advisers Act and rules thereunder.