Fairness Opinions in Today's Economy
BVR's Webinar Series
Thursday, July 15, 2010
12:00am-2:00am PT • 3:00am-5:00am ET
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In 2006 BVR hosted expert appraiser Craig Jacobson in an in-depth review of fairness opinions. Since that presentation unprecedented changes have occurred through regulation, court case law, and – of course – the economy. In this presentation Jacobson rejoins BVR with attorney Jeffrey Rothschild to cover how these changes affect fairness opinions. From changes to the processes of determining value to operating in the current regulatory and market environment, Jacobson and Rothschild discuss how classic considerations and emerging trends affect you in this must-hear presentation.
- Fairness opinion basics
- Why fairness opinions are of interest to valuation professionals
- Difference between valuation and a fairness opinions
- Opportunities and needs for fairness opinion
- Who requests a fairness opinion
- Valuation analyses as performed for a fairness opinion
- The work product related to a fairness opinion
- Legal/regulatory issues
- Fairness opinion engagement letters
- Fiduciary duty
- Case law update
- Regulatory environment update
- FINRA Rule 5150
- Entire fairness standard
- Valuation considerations
- Importance of the standard of value
- Consideration of synergies
- Consideration of lower asset prices
- Consideration of volatile securities markets
- Consideration of precedent transactions
- Required rate of return
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- Prerequisites: Knowledge of Business Valuation
- Program Level: Advanced
- Preparation Required: None
- Delivery Method: QAS Self-Study
- Recommended CPE: 2.0 Credit Hours (Specialized Knowledge & Applications)
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