Comments on: New Speech by John Bogle http://johncbogle.com/wordpress/2009/03/13/new-speech-by-john-bogle-4/ Thoughts from the Founder of the Vanguard Group of Investment Companies Mon, 16 Jan 2012 22:04:27 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: corpgov http://johncbogle.com/wordpress/2009/03/13/new-speech-by-john-bogle-4/comment-page-1/#comment-344 corpgov Sat, 14 Mar 2009 23:59:06 +0000 http://johncbogle.com/wordpress/?p=246#comment-344 While I certainly agree with Mr. Bogle's assessment of the problems, I'm not sure extending the legal duties of fiduciaries per ERISA to all investment and financial advisors offers much of a solution. I once asked the Department of Labor how many enforcement actions they had taken to ensure proxies were voted solely in the interest of beneficiaries, as required by ERISA. The answer was none. While I certainly agree with Mr. Bogle’s assessment of the problems, I’m not sure extending the legal duties of fiduciaries per ERISA to all investment and financial advisors offers much of a solution.

I once asked the Department of Labor how many enforcement actions they had taken to ensure proxies were voted solely in the interest of beneficiaries, as required by ERISA. The answer was none.

]]> By: Some billionaires apparently take Amtrak at The Mad Finn http://johncbogle.com/wordpress/2009/03/13/new-speech-by-john-bogle-4/comment-page-1/#comment-343 Some billionaires apparently take Amtrak at The Mad Finn Sat, 14 Mar 2009 02:50:07 +0000 http://johncbogle.com/wordpress/?p=246#comment-343 [...] Apparently he was on his way to deliver a speech in fiduciary duty. [...] [...] Apparently he was on his way to deliver a speech in fiduciary duty. [...]

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