,,ib  ,union ,cal5d> ,no4 #bff  #aae?   
,,congress  #a/ ,session  ,h4 ,r4 #cigb 
,report ,no4 #aae-cfb  ,,9 ,,! ,,h\se   
,,( ,,repres5tatives  ,octob] #e1 #bjag 
,mrs4 ,c>olyn ,b4 ,maloney ( ,new ,york 
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices     
,octob] #bc1 #bjag ,report$ ) am5dm5ts1 
committ$ to ! ,committee ( ! ,:ole ,h\se
 on ! ,/ate ( ! ,union1 & ord]$ to be   
pr9t$ ,omit ! "p /ruck ?r\gh & ins]t !  
"p pr9t$ 9 italic  ,a ,,bill  ,to cl>ify
 t family (fices & family cli5ts are    
accr$it$ inve/ors1 & = o!r purposes4    
#a4 ,%ort title  ,?is ,act may be cit$ z
 ! ,family ,(fice ,te*nical ,correction 
,act ( #bjag4  #b4 ,accr$it$ inve/or    
cl>ification ,any p]son :o is a 7a7 ,9  
,g5]al4--,subject to subsection 7b71 any
 family (fice or a family cli5t1 cli5t (
 a family (fice1 z def9$ 9 section      
#bge4bjb7;a77#aa77;,g7-#a ( title #ag1  
,code ( ,f$]al ,regulations1 %all be    
deem$ to be an accr$it$ inve/or1 z def9$
 9 ,regulation ,d ( ! ,securities &     

,ex*ange ,commission 7or any successor  
!reto7 "u ! ,securities ,act ( #aicc4   
7b7 ,limitation ,subsection 7a7 only    
applies to a family (fice ) assets "u   
managem5t 9 excess ( #e1jjj1jjj1 & a    
family (fice or a family cli5t n =m$ = !
 specific purpose ( acquir+ ! securities
 (f]$1 & ^: pur*ase is direct$ by a     
p]son :o has su* k & exp]i5ce 9 f9ancial
 & bus9ess matt]s t su* p]son is capable
 ( evaluat+ ! m]its & risks ( !         
prospective inve/m5t4  ,octob] #bc1     
#bjag ,report$ ) am5dm5ts1 committ$ to !
 ,committee ( ! ,:ole ,h\se on ! ,/ate (
 ! ,union1 & ord]$ to be pr9t$