Regulation
Editorial writing on Regulation from The Family Office Almanac.
Malaysia opens its family office regime to multi-family offices
Budget 2027 adds a multi-family office model to Malaysia's single family office scheme in Forest City, which the Securities Commission says holds an indicative RM20.8bn. The tax treatment of the new model is still undefined.
Swiss senators vote to make UBS hold $16bn more capital against its foreign arms
On 23 September 2026 the Council of States voted 29-16 to require UBS to back its foreign subsidiaries with CET1 capital worth 90 per cent of their value. The bill now goes to the lower house, and a final answer is unlikely before 2027.
The FCA gets a date: 2028 for AML supervision of lawyers, accountants and trustees
The Home Office published its anti-money laundering and asset recovery strategy for 2026 to 2029 on 15 September. Buried in 101 pages is a timetable that matters to every private client adviser: supervision moves to the FCA in 2028.
The SEC sends its retail private markets proposal to the White House, performance fees included
A draft SEC rule reached the Office of Management and Budget on 31 August 2026. It would widen retail access to private markets through registered funds and rewrite the framework limiting performance fees to qualified clients.
FinCEN ends beneficial ownership reporting for US entities
A FinCEN final rule issued on 11 August 2026 permanently exempts US companies and US persons from Corporate Transparency Act reporting, and deletes the data already filed. Foreign entities registered in a US state still report.
New SEC guidance could name the family offices behind activist campaigns
Staff interpretations issued by the SEC in July may require activist funds to disclose the investors financing a campaign, including family offices that value their anonymity.
What the 'family office' label does not buy: an SEC suit over $40m in note sales
The SEC has sued a firm called Sanders Family Office, alleging it sold around $40 million in promissory notes without a broker licence. The case is a reminder that the label carries no regulatory weight.
What we are reading about family offices
No noise, no selling. A measured take on what's moving across family offices and private wealth.