According to the Investment Advisers Act of 1940, when must an access person submit their personal security holdings?

An access person must submit their personal security holdings within 10 days after becoming an access person, which aligns with the regulatory requirements set forth in the Investment Advisers Act of 1940. This requirement is in place to ensure transparency and prevent conflicts of interest in the personal trading activities of those who have access to sensitive information regarding clients or the advisory firm.

By mandating this timely disclosure, the Act aims to help regulatory bodies and firms monitor potential insider trading or other unethical behaviors that could arise from an access person's position. The 10-day window provides a balance between allowing individuals to locate and report their holdings without unnecessarily delaying the oversight process.

The other options suggest timeframes that either don't align with this regulatory requirement or do not provide adequate time for compliance. For example, immediate reporting might be impractical, while longer durations like 30 days could create a gap during which conflicts may not be adequately monitored or addressed. Thus, 10 days is the designated period recognized for maintaining the integrity of the investment advisory profession and protecting client interests.