Mythbusters
Myth: If you call an LLC a family office, the SEC rules no longer apply.
A family office or private foundation claim examined in plain English.
The SEC exclusion has substantive client, ownership, control and public-holding-out conditions.
The claim
If you call an LLC a family office, the SEC rules no longer apply.
The reality
The SEC exclusion has substantive client, ownership, control and public-holding-out conditions.
Sources and research trail
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