On October 22, the Federal Register reported on a proposal by the Department of Labor (DOL) to expand the definition of "fiduciary" with regard to ESOPs to include those who give "advice, appraisal or fairness opinions concerning the value of securities or other property." Though the DOL believes this change will cut down on purported abuses in the market, changing a classification held since 1976 to include appraisers as ERISA fiduciaries would carry significant implications for the liability of those valuation professionals working with ESOPs. On May 19, BVR welcomes attorney Jared Kaplan, who's had extensive involvement with this proposed rule change, for an in-depth examination of the effects projected by this new regulation and what it means for the appraisal profession. For any appraiser practicing in this area, this is not a presentation to miss.