Spencer Fane attorney Greg Ash was recently interviewed for an article in Ignites explaining the potential impact of the lawsuits against Fidelity on the recordkeeping industry.
Titled “If ‘Infrastructure’ Fees Are Illegal, Kiss Recordkeepers Goodbye: Fidelity,” the article outlines the claims against Fidelity, including the potential for recordkeepers’ fees to be found illegal.
“[The economic impact of deeming recordkeepers fiduciaries] would devastate the recordkeeping industry and shut down many useful services provided to plan sponsors,” Greg explained in the article.
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