fidu

What are some of the potential claims/causes of action that may be brought against a custodian or trustee of pension assets in the case of hostile take overs or Leveraged Buy Outs?

can we try to create a "top ten" list of the risks associated with being a fiduciary of a LESOP or ESOP?

is there an ERISA problem with a fiduciary charging custody clients based on percentage instead of flat fees? for example, investment managers charging fees based on percentage of return. performance based fees for corporate action services and the like? any thoughts???

here's a bit more info that is relevant, but I would really appreciate someone giving me a quick lesson on how this compares with ERISA regs, and a comparison of the % lmiitations under SEC vs. ERISA. US Registered mutual funds a prohibited from transacting with an affiliate on a principal basis under Section 17a of the Investment Company Act of 1940 (the "Act"

under ERISA is there a specific % that determines whether there has been a party in interest transaction. is it any amount ie, a 1% owner is a party in interest/affiliate. under SEC, it may be rule 18d?? that deals with affiliate/party in interest issues. can anyone shed some light on this topic for me? thanks.

my question is based on affiliate ownership issues regarding mutual funds. any thoughts?

SECOND REQUEST - are there any comparable provisions under ERISA and the SEC that deal with PARTY IN INTEREST rules????

Good Day All. Can anyone offer some guidance on this please Do the PARTY IN INTEREST provisions under ERISA have any analogous rules governed by the SEC? as always, thanks for any relevant thoughts.

admirable MOJO. I must admit, I still am undecided on the issue of whether a bank, acting only as custodian of plan assets, has fiduciary status. any case law in NY (even though it is erisa) to substantiate your view? thanks

THANKS. an amalgam of the posts provides ample direction (or discretion - take your pick) for me to investigate further. I REALLY APPRECIATE ALL THE INSIGHT AND GUIDANCE. ENJOY THE WEEKEND - (its already happy-hour somewhere)

for the most part, i think the discretion and management component is the issue. what if the custodian has recordkeeping and reporting requirements under the custody agreement.?? fiduciary or not?

NOW THAT'S AMAZING. !!!!!!!!!!! I could not have created two answers more in conflict. Thank you both - do either of you, or anyone else have any case law, regulatory guidance, or advisory opinions to justify your position?

Hope everyone had a happy and peaceful new years eve' i would really appreciate any and all responses (CAVEAT: limited to marginally intelligible responses as usual please) my question - which is time sensitive, is - when is a custodian NOT a fiduciary???? thanks in advance.

Many thanks to all for the concise and extrememly knowledgable answers one follow up for Jon or anyone else who may know - has NY state adopted the UPIA? and if so, where is it codified? HAPPY & HEALTHY HOLIDAYS AND NEW YEARS TO ALL

Thanks, but that last response does not clarify the distinction btween prudent man and prudent EXPERT. regardless, it seems to be a state law doctrine and ERISA is still governed under the prudent MAN rule - CORRECT????

Can anyone clarify the difference btw prudent man and prudent expert rule as they apply to ERISA fiduciaries. Are there ERISA or other code provisions or adsvisory opinions that deal w/ this at all? thanks for all responses! happy and healthy holidays to all

2 part qeustion is 407 the correct ERISA section that covers 10% concentration levels at time of purchase of employer securities held in a plan trust fund. what is required of a fiduciary/investment manager if the concentration levels go above 10% because of market fluctuations. must you sell the amount necessary to return to the 10% limit, what if selling in a down market would be imprudent?

What is the potential for successful personal liability claims against ENRON fiduciaries for breach of fiduciary duty under ERISA? A. definitely liable under ERISA B. definitely NOT liable under ERISA C. will depend on facts not yet determined.

ERISA rules re: diversification of qualified employer real property held by a plan. 407(d)(4)(A) says a "substantial" number of the parcels which are geographically diverse. I thought the rule was three (3) or more parcels that were geographically diverse? Am i right? Was this contained in a DOL guidance letter or the like? where can i get a copy of dol advisory 77-1 online? thanks. (and of course . . . time is of the essence!)