"While the proposal introduces a more defined framework for evaluating prudence, it does not lower the fiduciary standard. In several respects, it may raise expectations by making the elements of a prudent process more explicit.... [1] A higher bar for documented process ... [2] A false sense of security around the safe harbor ... [3] Increased complexity in investment decisions ... [4] Misalignment between selection and monitoring ... [5] Litigation will likely evolve, not disappear ... Taken together, these risks point to a common theme: greater clarity is likely to bring greater accountability in practice."  MORE >>