If something is legal, but no one does it because they are afraid of regulators and being sued into oblivion, is it actually legal? The answer is yes, and today in a new proposed rule the Department of Labor emphatically made that point regarding alternative assets’ role in America’s retirement system.
More than 90 million Americans have retirement accounts with practically no exposure to private markets. While such exposure is perfectly legal, the prior Administration stuck its thumb on the regulatory scale to threaten those that would dare try – and for those who believe these investments fit their portfolios – opportunistic trial lawyers stand ready waiting to sue.
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