"As a consequence, disputes among family members concerning the operation of the family office could be resolved within the family unit or, if necessary, through state courts under laws specifically designed to govern family disputes, but without the involvement of the (SEC)," according to the SEC.
The SEC is accepting public comments on the proposal until November 18.
A full copy of the proposal may be viewed at www.sec.gov/rules/proposed/2010/ia-3098.pdf.