Celebrating 125 Years

New SEC Rule Defining Family Office Is Now in Effect

The drafters of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank") included an exclusion from the definition of "investment adviser" under the Investment Advisers Act of 1940 (the "Advisers Act") for any family office, as that term is defined by the SEC. In response, the SEC adopted rule 202(a)(11)(G)-1 to define the term "family office" for the purpose of the Dodd-Frank exclusion. This rule went into effect on August 28, 2011.

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Sep 13, 2011

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