Fiduciary Compliance in ESOP Transactions: Recent DOL Settlement Agreements and Best Practices for Counsel
Implications of Recent Settlement Agreements and Guidance on Avoiding Litigation
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will guide counsel on rules and procedures governing fiduciary and compliance responsibilities of trustees and advisers in ESOP transactions. The panel will discuss the implications of recent DOL settlement agreements, such as the FBTS, Alpha and the recent LNB agreement, and best practices in satisfying fiduciary duties in ESOP transactions and avoiding litigation.
Outline
- Overview of fiduciary duties, policies and procedures of ESOP transactions
- The impact of DOL settlement agreement with FBTS and Alpha
- Detailed requirements of selecting valuation advisers and oversight of appraisors
- Fiduciary review process: projections, documentation and reliance
- Implications of the recent LNB settlement agreement
Benefits
The panel will review these and other crucial issues:
- Recognizing DOL standards for fiduciaries in ESOP transactions from the GBTC settlement agreement
- Understanding the necessary policies and procedures to be followed by trustees or other fiduciaries of ESOPs
- Selecting a valuation adviser and recognizing the requirements and procedures the adviser must follow
- Proper documentation of valuation reports and transaction agreements
- Critical steps during the fiduciary review process and avoiding litigation
Faculty
Eliot T. (Eli) Burriss
Partner
McDermott Will & Emery
Mr. Burriss litigates complex commercial disputes throughout the United States, serving as counsel to global... | Read More
Mr. Burriss litigates complex commercial disputes throughout the United States, serving as counsel to global clients in all aspects of litigation. In recent years, he has had a particular emphasis on representing health care and life sciences companies, as well as a variety of organizations in antitrust, ERISA and other significant matters. He has tried state and federal antitrust claims and government investigations, as well as claims of unfair competition, ERISA, breach of fiduciary duty, deceptive trade practices, trademark violation, breach of contract, vicarious liability, products liability and tortious interference with contractual relationships.
Close
J. Christian Nemeth
Partner
McDermott Will & Emery
Mr. Nemeth provides legal counsel on complex commercial litigation and government investigations, including ERISA... | Read More
Mr. Nemeth provides legal counsel on complex commercial litigation and government investigations, including ERISA matters, financial and banking cases, business torts and breach of contract actions. He is the Co-Chair of the Firm’s ERISA Litigation group and works closely with the Firm’s Employee Benefits department on all types of Litigation matters, Department of Labor investigations and similar issues.
Close
Roberta Casper Watson
Partner
The Wagner Law Group
Ms. Watson focuses on ERISA and employee benefits. She concentrates on a wide array of areas including, pension and... | Read More
Ms. Watson focuses on ERISA and employee benefits. She concentrates on a wide array of areas including, pension and profit sharing plans, health and welfare benefit plans, including COBRA, HIPAA and the Affordable Care Act, ERISA fiduciary decision-making, Employee Stock Ownership Plans, benefits litigation backup, benefits aspects of mergers and acquisitions, employee benefits aspects of family law, labor laws affecting employee benefits, other employee benefits and deferred Compensation, and employee benefit disputes and employee benefits claims.
Close
Emily Rickard
Atty
McDermott Will & Emery
Ms. Rickard focuses her practice on employee benefits matters. In addition to employee benefits, she concentrates... | Read More
Ms. Rickard focuses her practice on employee benefits matters. In addition to employee benefits, she concentrates on ERISA dispute resolution, executive compensation, health and welfare benefits, and retirement benefits.
Close