The Specter Of SEC Regulation Of Family Offices

Wealthy families form family offices to provide a variety of services that are customized to meet the administrative, financial, and wealth management needs of current and future generations. To date, most family offices have been able to operate in an environment relatively free of regulation of investment functions due to the private adviser exemption under the Investment Adviser Act of 1940. With the passage of the Dodd‐Frank Wall Street Reform and Consumer Protection Act, many family offices may soon be subject to regulation by the SEC.

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This article was published on the Leimberg Information Services Inc. website on January 4, 2011.

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