SEC Offers Family Office Registration Exemption

Oct 13 2010 | 1:17pm ET

Family offices may skirt Securities and Exchange Commission registration after all under a newly-proposed rule.

While the Dodd-Frank financial reform law will require all private fund managers, including hedge funds and private equity funds, with more than $150 million to register with the SEC, the SEC has proposed to exempt family offices. The rule, if adopted would apply only to family offices that manage money or provide advice to family members and some employees of entities owned or controlled by family members.

Firms that hold themselves out as investment advisers to the public would not be covered.

The new exemption is necessary as the Dodd-Frank law does away with the 15-investor exemption, which most family offices relied on.

The SEC is accepting comment on the new fund until Nov. 18.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...