The implosion of Archegos is giving thousands of secretive family offices the greatest challenge to their privacy in a decade. They won’t give it up without a fight.
Some lawmakers, regulators and consumer advocates are pushing to expose the inner workings of family offices, which are closely held and lightly regulated yet manage an estimated $6 trillion for the ultra-rich globally.
The changes the reform advocates seek would require U.S. family offices to register as investment advisers and publicly report holdings on a quarterly basis, as most other types of investment firms must.
Such data could alert regulators, investors and ...