US - An internal Wilshire memo sent to all its senior consultants has warned them of potential legal pitfalls for clients when advising on the suitability of liability driven investment (LDI) products in the US.
The concerns centred on an advisory opinion given by the Department of Labor (DOL) in October 2006. It was sought by Donald Myers of ReedSmith on behalf of JPMorgan Chase Bank and asked for cla...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
