FOX Offers Help on SEC’s New Family Office Regs

The SEC approved a rule on June 22, defining what kind of firm can call itself a “family office” and thereby is excluded from the Investment Advisers Act of 1940. Entities that do not qualify for the exemption will have to either register with the agency as an RIA or make substantial changes in their structure.

According to FOX, options for entities that do not qualify for exemptions include becoming a qualifying family office by declining all clients who fall outside the SEC definition of “family client,” removing the investment function from family office control, reorganizing the office as a state-regulated family-owned private trust company or seeking an exemption from the SEC.

Several subject-matter experts will lead discussions during the two-day workshops, including:

• Tom Balliett, a partner with Kramer, Levin, Naftalis & Frankel
• John P.C. Duncan, founder of Duncan Associates Attorneys and Counselors
• Wallace Head, managing director of Personal Fiduciary Advisors
• Martin E. Lybecker, a partner with Perkins Coie
• David Simon, founder and president of WeComply Inc.
• Tim Terry, deputy general counsel with Hartz Capital.