Capitalism has played an important role in world history generally and in American history in particular. Nevertheless, today many Americans view capitalism with suspicion or even hostility. What’s needed is a remaking of the case for capitalism, which itself requires a restatement of capitalism’s old truths.
Mutual Fund Performance Advertising: Inherently and Materially Misleading?
By Alan R. Palmiter & Ahmed E. Taha — Despite the fact that mutual funds’ past performance is not a good predictor of future returns, mutual fund companies routinely advertise the returns of their best funds.
Fiduciary Law in the 21st Century
By Tamar Frankel — This paper was presented as part of a conference on fiduciary law at Boston University on October 29, 2010.
Comments on Definition of Fiduciary Proposed Rule
Disclosures and client consent are insufficient – by themselves – to satisfy the fiduciary standard. Investors must be able to rely on and have confidence in the expertise of their advisor. This can only be accomplished by applying a standard that prohibits all conflicts of interest.
Definition of the term “Fiduciary”
Rhoades provides a 119 page letter to the Department of Labor explaining in significant detail what fiduciary duty means.
An Investment Adviser’s Fiduciary Duty
By Lorna A. Schnase — An investment adviser’s fiduciary duty derives primarily from common law and federal statutory law. There are two basic duties, those of care and loyalty. Some authorities list additional duties such as a duty of obedience, a duty to act in good faith, and a duty of disclosure.
