Friday, February 8, 2008

Fiduciary Duty to Consumers, Eligible voters, Investors

Fiduciary Duty to Consumers, Eligible Voters, Investors
A fiduciary standard of care shall be applied to all proposals for any sale to the public, approval by a regulatory agency as to a new or existing product intended for sale or being sold to the public, any solicitation for membership among the public, or any statement of standards used in assessing the safety of any product or consumable, or any request for political position support for any idea or project to be funded with public funds. Actions required shall include:

1) full disclosure to the public as to funding sources and amounts used in support or promotion of the project, group position, membership offering or idea,

2) definitions of terms used in any prospectus or other sales - membership mechanism,

3) all testing results, and

4) any other element of transparency as to underlying facts reasonably relied upon by the offeror and reasonably related to the consumer's ability to make a fully informed decision as to the sale, membership, approval or political position.

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