H.R. 3972 — Introduced in House

I 115th CONGRESS 1st Session H. R. 3972 IN THE HOUSE OF REPRESENTATIVES October 5, 2017Mrs. 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. 1. Short title This Act may be cited as the Family Office Technical Correction Act of 2017. 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.