Alternative Assets (27)—DOL Proposal and the Six Defined Factors: The Liquidity Factor (6)
Key Point: The DOL’s example will allow plan fiduciaries to rely on written representations by investment managers. I don’t like the concept of relying on representations by people who will make money if plan fiduciaries say “yes” but won’t if they say “no”. While this approach may be protective of fiduciaries, I don’t think it […]