The Danger Of Fiduciary Status For Valuation Firms
Under the new definition, valuation firms would, for the first time since ERISA’s passage, be subject to its stringent fiduciary duties and their attendant liability. Many predict that an unintended consequence of this expanded definition could be a concerted exit from the valuation market by firms that have traditionally performed valuation services.
Enacted in 1974, ERISA applies fiduciary...
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