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Podcast: Syndication Law & The Private Placement Memorandum Attorney
Episode: Unveiling The Essential Fiduciary Duties For Syndications & Funds
Description: A syndicator or fund manager has three main fiduciary duties towards their investors - duty of care, duty of disclosure, and duty of loyalty. The duty of care requires them to make reasonable decisions and safeguard the investors' money. They are not allowed to be negligent or reckless with the funds. The duty of disclosure, on the other hand, demands transparency from the manager. The investors should be allowed to see the books and understand how their money is being used. Finally, the duty of loyalty means that the syndicator cannot put their interests above those of the investors...