ERISA Fiduciaries Under Attack: Key Litigation and Regulatory Developments

Mitigating Risks of Breach of Fiduciary Duty Claims

Recording of a 90-minute CLE webinar with Q&A


Conducted on Thursday, June 16, 2011
Recorded event now available


This CLE webinar will provide attorneys with a review of new and evolving rules governing fiduciary liability, address regulatory and litigation developments that affect ERISA fiduciaries, and outline strategies to improve due diligence and other investment governance for defined contribution and defined benefit plans.

Description

Litigation surveys cite breach of fiduciary duties as a fast-growing driver of ERISA lawsuits involving securities fraud and questions about investment-risk governance and prudence. Economic losses and investment complexity are only a few reasons for continued new rules, regulations and claims.

In addition, significantly increased liability exposure is expected due to the SEC's and DOL's focus on expanding the definition of plan fiduciaries.

Evolving case law is putting plan sponsors and service providers in the spotlight as never before with regard to their investment-related processes. Litigation claims are focusing on who is making the investment decisions, and the due-diligence and other procedures these decision-makers use.

Listen as our authoritative panel of attorneys and experts guides you through the ERISA fiduciary minefields, addresses best practices for fiduciaries, discusses practical realities regarding case management and settlement, and recommends action steps for investment committees, board members and the advisers, consultants, appraisers, custodians and managers who provide products and services to employee benefit plan sponsors.

Outline

  1. ERISA fiduciary liability
    1. Overview of fiduciary duties
    2. Concept of prudence and the focus on procedure
    3. Role of investment committees versus role of the board
  2. Fiduciary liability insurance
    1. What is fiduciary insurance and who is typically an insured
    2. Recent trends in litigation settlements
    3. What concerns insurance underwriters
    4. Best practices to preserve all available coverage
  3. Fiduciary pain points
    1. General failure to hedge or diversify
    2. Post-Enron investment in company securities
    3. Risk management through the internet bubble, the sub-prime crisis and beyond
    4. Processes to diligencing both investments and service providers
    5. Identifying and paying fees
    6. Disclosure to "401(k)" participants

Benefits

The panel will review these and other key questions:

  • When are plans adopting risk management strategies?
  • What should the composition of the investment committee be?
  • How may an expanded "fiduciary" definition impact potential damages?
  • Does Dodd-Frank affect plan-management concerns?
  • How should insurance coverage be reviewed and managed?

Faculty

Susan Mangiero, Managing Member
Fiduciary Leadership, Trumbull, Conn.

Her practice focuses on analysis, damage assessment, training and expert witness services in the areas of risk management, valuation, asset allocation, asset-liability management, diversification, prudence, derivatives and service provider due diligence.

Andrew L. Oringer, Partner
Ropes & Gray, New York

Andrew is a Ropes & Gray LLP partner who leads the firm's ERISA and executive compensation practice in New York. He is chairman of the Fiduciary/Investments Subcommittee of the Employee Benefits Committee of the ABA's Section of Taxation, co-chair of the Employee Benefits Committee of the New York State Bar Association's Tax Section, and an adjunct professor at Hofstra University's law school.

Christine A. Dart, Vice President
Chubb & Son, Simsbury, Conn.

 


Recordings

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CLE On-Demand Audio $148.50

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Program Materials

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Customer Reviews

Great overall summary of ERISA issues.

Shannon Awsumb

Anthony Ostlund Baer & Louwagie

Webinar contained lots of new information and real life examples.

Adena Patterson

McGuireWoods

The best teleconference I have experienced — bar none.  Well done in every respect.

Jake Jacobson

Osborne Construction

Very focused seminar that provided the information I expected in a concise format.

Kimberly M. Butler

Downs Rachlin Martin

The speakers were good and the topic was not something covered in other seminars / webinars.

Ronald Yano

Loeb & Loeb

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Employment & ERISA Advisory Board

Susan E. Bernstein

Special Counsel

Schulte Roth & Zabel

Judith (Jude) Biggs

Partner

Holland & Hart

Joshua Davis

Director

Goulston & Storrs

Barbara E. Hoey

Partner

Kelley Drye

Jeffrey Hollingsworth

Partner

Perkins Coie

Diana L. Hoover

Partner

Hoover Kernell

Paul J. Kennedy

Shareholder

Littler Mendelson

Marcia Nelson Jackson

Partner

Wick Phillips

William C. Martucci

Partner

Shook Hardy & Bacon

Nancy Morrison O'Connor

Partner

Bracewell & Giuliani

Laura Foote Reiff

Shareholder

Greenberg Traurig

Eugene Scalia

Partner

Gibson Dunn & Crutcher

Peter Steinmeyer

Member

Epstein Becker & Green

Teresa R. Tracy

Partner

Freeman Freeman Smiley

Todd D. Wozniak

Shareholder

Greenberg Traurig

or call 1-800-926-7926

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