Groom principal Brigen Winters, chair of the firm's Policy group, was featured in the American Society of Pension Professionals & Actuaries ("ASPPA") article, "ESOP Proposal Withdrawn as Pending Proposals on Ice," where he emphasized the need for clearer Department of Labor ("DOL") guidance on employee stock ownership plan ("ESOP") requirements days after President Trump withdrew a pending ESOP proposal.
ASPPA reported that, according to Winters, "That industry will need guidance on valuation substance requirements and not just process in any re-proposal. The DOL should discuss valuation principles and its views on them such that the concept of 'fair market valuation' is understood by market actors."
The platform further reported that Winters said that "substantive valuation issues, such as warrants, stock appreciation rights, and controlling interests 'are a constant source of litigation and enforcement activity,' and need to be clarified by DOL."
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