HR 4620
To amend the Investment Advisers Act of 1940 to limit the exemption provided for family offices from the definition of an investment adviser, and for other purposes.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill changes how the U.S. Securities and Exchange Commission (SEC) regulates family offices, which manage wealth for families. Currently, many family offices are exempt from SEC regulations regardless of their size. This bill limits that exemption to family offices with less than $750 million in assets under management. It also requires the SEC to exclude family offices with a history of fraudulent activity and allows the SEC to require reporting from exempted family offices to protect investors.
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