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House Bill 3972
115th Congress(2017-2018)
Family Office Technical Correction Act of 2017
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Passed House on Oct 24, 2017
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H. R. 3972 (Introduced-in-House)


115th CONGRESS
1st Session
H. R. 3972


To clarify that family offices and family clients are accredited investors, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

October 5, 2017

Mrs. Carolyn B. Maloney of New York introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To clarify that family offices and family clients are accredited investors, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Family Office Technical Correction Act of 2017”.

SEC. 2. Accredited investor clarification.

Any person who is a family office or a family client, as defined in section 275.202(a)(11)(G)–1 of title 17, Code of Federal Regulations, shall be deemed to be an accredited investor, as defined in Regulation D of the Securities and Exchange Commission (or any successor thereto) under the Securities Act of 1933.