Having been the first advocate to the Investment Company Institute’s SEC Rules Committee to promote the recognition of domestic partners for purposes of federal securities law compliance circa 1998 (with vociferous counterpoint from other Committee members), I am delighted to report the following.Copyright: Loren Javier

In adopting final adviser registration rules under Dodd Frank in 2011, pursuant to the comments of the American Bar Association, the SEC now recognizes “spousal equivalents” defined as “cohabitants occupying a relationship generally equivalent to that of a spouse.” Rule 202(a)(30)-1(a)(1).

Which leads this author to wonder if the SEC staff debated and rejected such other alternatives as the Colbert-ian “spousiness” or the snappier “I Can’t Believe It’s Not Spouse.” All kidding aside – and clunkiness notwithstanding – well done, SEC, for at least trying to recognize the evolution of the modern family.

[The views expressed are the author’s and are not necessarily the views of her firm or her partners.]