Larry to Testify in Washington
February 22, 2011 § Leave a comment
The Department of Labor’s Employee Benefits Security Administration (DOL EBSA) announced in a press release on December 22, 2010 that it will hold a public hearing on March 1 & 2, 2011 in Washington, D.C. on the proposed rule regarding the definition of a fiduciary, which included mandating all valuators of private company ESOPs be fiduciaries to the ESOPs they value.
The proposal will have far-reaching and detrimental consequences in the realm of Employee Stock Ownership Plans (ESOPs). Larry will be testifying against the proposal at the hearing in Washington next week. Feel free to send your thoughts to protectESOPs@gmail.com
We’ll post Larry’s speech once he returns, so check back in two weeks!