Family Office Counsel
Under the new Dodd-Frank Act, promulgated on July 21, 2010, the Securities and Exchange Commission (SEC) is requiring that certain advisers providing family office counsel services register if certain exemptions are not met. Under these new SEC guidelines, persons who are managing money for high-asset families, or are otherwise providing financial advice may need to register.
The securities lawyers and professionals at Jacko Law Group, PC, can answer your questions and guide you through the SEC regulations governing family office services. We can review your particular situation and analyze whether you are exempted from registration or required to register as an investment adviser with the SEC. Our firm will consider, among other things, the types of services provided and for whom as well as whether you are marketing your services.
IMPACT OF DODD-FRANK ACT AND FAMILY OFFICES
Under the Advisers Act, providers of family office services who hold themselves out to the public generally are considered investment advisers, thus requiring registration. Prior to the Dodd-Frank Act, many family office service advisers could be exempt from registration if they advised fewer than 15 clients. However, this exemption has been repealed in order to allow for greater regulatory oversight.
Let us examine the specifics of your circumstance in order to provide you with accurate and detailed counsel. If registration is required, JLG can assist with all Form ADV filings and on-going corporate counsel on family office regulatory compliance requirements.
We can assist your family office by:
- Authoring your advisory contracts
- Creating and maintaining compliance programs
- Developing written policies, procedures and internal controls
- Testing of AML, BCP and Reg S-P programs
- Reviewing ERISA compliance requirements
- Performing Advertising Reviews
For more information regarding SEC compliance and requirements for family offices, call one of our securities lawyers directly at 619.298.2880 or contact us online.