This alert describes the new proposed guidelines for capital accumulation plans (the "Guidelines") issued by the Joint Forum of Financial Market Regulators (the "Joint Forum") on April 25, 2003. The Guidelines, if implemented, will likely become the de facto standard of care and result in additional due diligence obligations for sponsors and administrators. The Joint Forum has requested comments by August 31, 2003, and is particularly interested in receiving comments from CAP sponsors, service providers and members.

type Pension Alert - Proposed Guidelines for Capital Accumulation Plans