SEC rules on family offices

10/17/2010 | Registered Rep.

Before the Dodd-Frank Act, family offices were not regulated by the Securities and Exchange Commission if they had fewer than 15 clients, but under the new rules -- which take effect next July -- some family offices will be under the SEC's jurisdiction. Family offices regulated by the SEC can either register as investment advisers, form a private trust company or work with existing registered firms.

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