The SEC has proposed changes to custody rules for investment advisers and regulated funds—but the real story may be the conditions attached to self-custody.
Three details stand out:
1️⃣ Self-custody could be permitted when an adviser determines that no qualified custodian is available. The key question: who decides whether a custodian is actually available?
2️⃣ Strict safeguards would apply — cybersecurity controls, safeguarding expertise, client disclosures and ongoing reviews. And if a qualified custodian becomes available, the self-custody route could effectively disappear.
3️⃣ State-chartered trust companies could become eligible custodians, potentially expanding the number of institutions able to provide custody services.
👀 The big question now: Will the SEC clearly define the “no custodian available” test—or leave it open to interpretation?
$NEAR $PHA $ARK 🚨 $NEAR SWEPT THE HIGHS… NOW THE TRAP MAY BE SET 👀
NEAR pushed above the previous $4.814 high, tagged $4.840—and then slammed back inside the range. Breakout buyers may have just walked straight into a trap.
The latest confirmed H1 candle closed at $4.497, while price has since formed lower highs and lower lows. But there’s one level standing between the bears and confirmation:
🔴 $4.428
Three clues are catching my attention:
1️⃣ Liquidity sweep: $4.840 was taken, then rejected. 2️⃣ Structure shift: Lower highs + lower lows have appeared since the sweep. 3️⃣ Weak bounce: The latest move to $4.497 came with only 0.35× the previous 20-hour average volume.
Wyckoff-wise, $4.840 could become a local UTAD candidate, but distribution isn’t confirmed yet.
SMC confirmation is simple: I want an H1 close below $4.428, followed by a failed retest.
🔴 CONDITIONAL SHORT Trigger: H1 close below $4.428 Entry: $4.430–$4.490 after failed retest SL: $4.535 TP1: $4.320 — 1.9R TP2: $4.210 — 3.3R
❌ Invalidation: H1 close above $4.535.
STATUS: BEARISH BIAS — NO ENTRY YET.
The dangerous move here may be shorting too early. If $4.428 keeps holding, sellers haven’t taken control yet.
👀 So what comes first: $4.428 breaks—or late shorts get squeezed above $4.535?