Ahead of SEC Chairman Gary Gensler's appearance before the House Financial Services Committee, two lawmakers sent a letter to him on Thursday, criticizing the agency for what they said is a lack of attention to capital formation issues.

Efforts to increase its scrutiny of hedge funds will likely hasten a move by some of those funds to become family offices.  

Whether it’s progressive lawmakers or newly assertive regulators at the U.S. Securities and Exchange Commission and Treasury Department, pressure is growing to force family offices to disclose more about their activities