Summary: H.R.3972 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.3972. Bill summaries are authored by CRS.

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Introduced in House (10/05/2017)

Family Office Technical Correction Act of 2017

This bill provides that family offices and family clients are accredited investors as set forth by the Securities and Exchange Commission (SEC) in Regulation D, which exempts certain offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings. (A family office is a company that has no clients other than family clients, is wholly owned and exclusively controlled by family clients, and does not hold itself out to the public as an investment advisor.)