H.R. 2225 · 112th Congress

To amend the Investment Advisers Act of 1940 to add a definition of family office.

Stage
In committee
Introduced
2011-06-16
Latest action
2011-07-19 · Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.

Summary

Amends the Investment Advisers Act of 1940 to define "family office" (exempt from coverage by the Act) as a company (including any director, partner, trustee, or employee of such company, when acting in their respective capacities as such) that has no clients other than family clients and is owned, controlled, or operated primarily for the benefit of family clients and does not hold itself out to the public as an investment adviser.