The U.S. Securities and Exchange Commission (the "SEC") on October 12, 2010 proposed a new rule, Rule 202(a)(11)(G)-1, under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act"), defining the term "family office" for purposes of the exclusion from the definition of "investment adviser" provided by Section 202(a)(11)(G) of the Advisers Act, which was added to the Advisers Act by the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank").