In a time when transparency in financial services seems in short supply, having this information as you do your duediligence could makea significant impact on your financial well- being.
An additional facet of the disclosure complex, especially as it relates to the scienter standard of recklessness, is the implication for the financial institutions and their professional advisors of a duty to conduct a reasonable duediligence to make certain that what they have said about SCF is the whole of the material truth.
Perhaps most important of all, they conduct duediligence of a target company to make sure its business practices are efficient and reliable, its valuable assets are safeguarded, and its accounts are accurate.