SEC Adopts Rule Defining “Family Office”

The Securities and Exchange Commission (the “SEC”) recently adopted a final rule (the “Rule”) defining “family offices” that are to be excluded from the definition of an investment adviser and corresponding registration requirements under the Investment Advisers Act of 1940 (the “Advisers Act”).  The SEC adopted the Rule pursuant to Section 403 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “SEC”) recently adopted a final rule (the “Rule”) defining “family offices” that are to be excluded from the definition of an investment adviser and corresponding registration requirements under the Investment Advisers Act of 1940 (the “Advisers Act”).  The SEC adopted the Rule pursuant to Section 403 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). 

 

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