; and (2) in the second subsection (d), by striking (d) and inserting (e) . VI Family Office Technical Correction Act 920. Accredited investor clarification (a) In General Subject to subsection (b), any family office or a family client of a family office, as defined in section 275.202(a)(11)(G)–1 of title 17, Code of Federal Regulations, shall be deemed to be an accredited investor, as defined in Regulation D of the Securities and Exchange Commission (or any successor thereto) under the Securities Act of 1933. (b) Limitation Subsection (a) only applies to a family office with assets under management in excess of $5,000,000, and a family office or a family client not formed for the specific purpose of acquiring the securities offered, and whose purchase is directed by a person who has such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of the prospective investment. VII Market Data Protection Act 921. Internal risk controls The Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq.) is amended— (1) by inserting after section 4E the following: 4F. Internal risk controls (a) In general Each of the following entities, in consultation with the Chief Economist, shall develop comprehensive internal risk control mechanisms to safeguard and govern the storage of all market data by such entity, all market data sharing agreements of such entity, and all academic research performed at such entity using market data: (1) The Commission. (2) Each national securities association registered pursuant to section 15A. (3) The operator of the consolidated audit trail created by a national market system plan approved pursuant to section 242.613 of title 17, Code of Federal Regulations (or any successor regulation). (b) Consolidated audit trail prohibited from accepting market data until mechanisms developed The operator described in paragraph (3) of subsection (a) may not accept market data (or shall cease accepting market data) until the operator has