Coping and Complying with the New SEC Regulations

In this 2011 FOX Fall Forum session, key lobbyists and attorneys shared how the new SEC regulations apply to single family offices and outline options for offices that do not qualify for exemption.

• The new SEC rule defining “family office” and exemption qualifications are as favorable as wealth owners and family office executives could hope. The SEC, for the most part, listened to the input from the Private Investor Coalition and adopted a broad definition of “family” and family office clients.
• The new regulations take effect on March 30, 2012. Family offices that do not qualify for an exemption need to be registered by then and should consult legal counsel now.  
• Single family offices should be aware of compliance issues beyond registration requirements and take proactive steps to ensure they are meeting related rules and regulations. Potential problem areas include insider trading, foreign direct investment regulation, and commodities and futures trading.