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Family Offices

Family Office Series, Part III: How Are Family Offices Structured?

As we noted in a previous family office series blog post, “if you’ve seen one family office, you’ve seen one family office.” There is no standard legal structure for family offices. The types and number of legal entities used...more

Family Office Series, Part II: The Pros and Cons of Forming a Family Office

A family with sufficient net worth, a shared vision for how to invest the family’s wealth, and the ability to communicate openly and resolve differences may be a good candidate to form a family office. There are a number of...more

Family Office Series, Part I: What Is a Family Office?

I have a home office in my basement that I refer to as the “Smith Family Office.” Fortunately, this blog post is not about my home office. A family office is an entity (or multiple entities) established by a wealthy family...more

Introduction to Our Family Office Series

Many wealthy families form or consider forming a “family office” to manage their wealth and provide services to family members. Whether forming a family office is feasible and whether it will be successful depends on a number...more

Minority Protections and Exit Options for Family Offices Considering Direct Private Investments | Publications

by Shearman & Sterling LLP on

As family offices trend toward direct private investments, it is important to consider minority protections and exit options in the context of investment negotiations. Direct private investments often mean greater control...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Wells Fargo’s Board Chair, Stephen Sanger, did survive his reelection vote the other day. Barely. But Breakingviews thinks he should think awfully hard about his future as a Director at the bank....more

U.S. Family Office Branches for Non-U.S. Families: The New Paradigm

by McGuireWoods LLP on

The family office has become wealthy families’ preferred vehicle to manage, preserve and protect wealth for future generations. The meaning of a family office varies wildly depending on the family — a trait that demonstrates...more

In Case You Missed It: Launch Links - December, 2016 #3

by WilmerHale on

Some interesting links we found across the web this week: 'Regtech' startups see more business in Trump era - Startups are beginning to react to the looming possibility of deregulation under the incoming...more

Asset Protection Wake Up Call: Data Security Top Concern for High Net Worth Investors

A recent study asked high net worth investors which of the following issues they were most concerned about: terrorism, data security, or a major illness. The most prevalent response might surprise you. Seventy-two percent...more

Islamic Finance News 2016 Annual Guide

by K&L Gates LLP on

A volatile year for Islamic finance – the only way is up? Once again the close of the year has come around more quickly than we ever thought possible, and it is time again for our annual review and outlook of the Islamic...more

Inside M&A - Spring 2015

by McDermott Will & Emery on

Just What You Are Looking For?—Family Office Direct Investing in Search Funds - Family offices are increasingly taking note of “search funds” as a private equity investment alternative within the broader private equity...more

"CFTC, SEC Issue Guidance on the Applicability of Certain Regulations to Family Offices"

In November and December 2014, the Commodity Futures Trading Commission (the “CFTC”) and Securities and Exchange Commission (“SEC”), respectively, issued guidance regarding the applicability of certain regulations to family...more

Family Office Key Employees’ Use of Employee Investment Trusts

by Perkins Coie on

Recent Development - Family office key employees have new flexibility under recent SEC guidance regarding the nature and range of persons who can properly be involved in the administration of their trusts. ...more

Financial Services Weekly News Roundup - January 2015

by Goodwin on

Editor’s Note: FINRA Rulemaking: In this issue we report on three recent FINRA rule amendments. The first amends the NASD rule on the use of customer account statements to require that member firms use more accurate...more

Protecting A Family’s Most Valuable Asset – Privacy

by BakerHostetler on

Each day, family offices receive, relay, and manage a family’s private information. Depending on the family and the role of the family office, the information managed can be voluminous and include financial information, tax...more

A Compilation of Enforcement and Non-Enforcement Actions

by Foley & Lardner LLP on

SEC Looks to Step Up Oversight of the Fund Industry - At a recent conference, Mary Jo White, SEC chairman, announced that the SEC will look to increase its scrutiny of the mutual fund asset management segment to ensure...more

SEC Provides Guidance on Key Employee Trusts Under Family Office Rule

The SEC Division of Investment Management recently provided guidance on whether certain key employee trusts would qualify as family clients under the rule. Recognizing the need for family offices to attract and retain...more

CFTC Issues Additional Relief for Family Offices

by Miller & Martin PLLC on

In November 2012, the CFTC's Division of Swap Dealer and Intermediary Oversight issued a no-action letter stating that the Division would not recommend that the CFTC take enforcement action against a family office for failure...more

CFTC Staff Grants Family Offices No-Action Relief from Registration as Commodity Trading Advisors

The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) recently issued no-action relief for failure to register with the CFTC as a commodity trading advisor (CTA) to any...more

CFTC Grants Relief to Family Offices from Registration as Commodity Trading Advisor

by Proskauer Rose LLP on

On November 5, 2014, the U.S. Commodity Futures Trading Commission (CFTC) issued a no-action letter granting relief from registration as a commodity trading advisor (CTA) to family offices that qualify for the family office...more

CFTC Grants Family Offices Relief From Registration as Commodity Trading Advisors

The CFTC previously granted family offices no-action relief from registration as commodity pool operators. That letter did not provide an exemption from registration as a commodity trading advisor. However, the CFTC has...more

SEC Grants Exceptions to Family Office Rules

The SEC has previously adopted a rule to define “family offices” that are excluded from the Investment Advisers Act of 1940. “Family offices” are entities established by wealthy families to manage their wealth and provide...more

DID YOU KNOW? SEC Allows Family Offices to Include Members of an Extended Family

by Perkins Coie on

Family offices have existed for over a century and have been formed to implement very important and complex objectives, including investment management, corporate succession, estate, gift and income tax planning, and...more

Creating Best Practices for Your Family Office

by Akerman LLP on

The "family office" is back in vogue. The dramatic increase in wealth creation during the last thirty years has given rise to a new generation of Rockefellers, Mellons, and Phipps. Today, families with sufficient wealth –...more

Family Office Relief from CPO Registration

by Miller & Martin PLLC on

As noted in an earlier Client bulletin, the Division of Swap Dealer and Intermediary Oversight (“Division”) of the Commodity Futures Trading Commission (“CFTC”) issued a no-action letter dated November 29, 2012 enabling...more

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