On October 12, 2010, the Securities and Exchange Commission (SEC) proposed a new rule that would exempt "family offices" from the definition of investment adviser under the Investment Advisers Act of 1940.
Advisers Act Rule Proposal on a Fast Track As required under the Dodd-Frank Act, the Securities and Exchange Commission has proposed new Rule 202(a)(11)(G)-1 to define a "family office" under the Investment Advisers Act of 1940 (the "Advisers Act").
Plan fiduciaries who are in the midst of implementing the new Form 5500 Schedule C requirements for service provider fees may not want to think about additional fee disclosures.
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the "Act") has now been passed by both houses of Congress and is awaiting signature by President Obama.
At the request of Congress, the Federal Trade Commission (FTC) has once again delayed enforcement of the Red Flags Rule until December 31, 2010.