From the Document: "In late March 2021, Archegos Capital Management and its investment bank financiers started liquidating huge stock positions, causing significant turbulence in capital markets. The stock sell-offs led to pronounced declines among a number of stocks and left various investment banks with large losses. The developments sparked an array of responses from financial regulators. Some scrutiny has turned to Archegos's regulatory status as a 'family office'--a lightly regulated entity with numbers in the thousands."
CRS In Focus, IF11825
Congressional Research Service: https://crsreports.congress.gov/