Family Offices will most likely see more monitoring after Archegos Capital Management rattled the stock market last week.
Dan Berkovitz, the commissioner on the Commodity Futures Trading Commission, released a statement about the need for increased regulation of Family Offices.
“Hwang has been in the SEC’s crosshairs before. In 2012, his former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after the SEC and U.S. prosecutors accused it of trading on illegal tips about Chinese banks. Hwang opened Archegos, a family office, following the sanctions, as the SEC kicked him out of the hedge fund industry by banning him from managing money on behalf of clients.”
