According to Drinker Biddle, the team will help the firm’s financial services clients – including insurance companies, mutual fund and hedge fund advisers, broker-dealers, registered investment advisers, independent recordkeepers and others – in meeting the ERISA regulations for fiduciaries, prohibited transactions, as well as reporting and disclosure rules.
The team, originally comprised of sixteen benefits lawyers, was joined by another eleven from the Los Angeles boutique firm of Reish & Reicher this March.
"Drinker Biddle has taken a leadership position in the legal market by assembling a team that is specifically focused on service providers to plans," said Fred Reish, a partner in the firm's Employee Benefits & Executive Compensation Practice Group and chair of the Financial Services ERISA Team, in the announcement. "Because of the complexities in operating these plans, service providers need legal representation that focuses on their needs and delivers advice that is based on knowledge of their business and of the governing regulatory authorities."
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