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Many Hints, Few Rules: Federal District Court Weighs in on Investment Advice
Bloomberg BNA Link to more items from this source
May 19, 2014
"Although the court stated that the defendants had the ability to control the plan's investments and that the advice they offered was not mere salesmanship, its failure to concretely state how it reached these conclusions leaves uncertainty in its wake.... Until resolution of these issues, brokers would be well-advised to carefully consider the status of their relationships with any party with which they discuss investments." [Severstal Wheeling, Inc. v. WPN Corp., No. 1:10-cv-00954-LTS-GWG (S.D.N.Y. Apr. 11, 2014)]

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