WASHINGTON, April 7, 2016 /PRNewswire/ -- Groom Law Group, Chartered, a Washington, D.C. law firm that focuses exclusively on benefits issues, announced that Erin Cho and David Olstein have joined the firm's Fiduciary Responsibility group.
Erin Cho has extensive background on ERISA's fiduciary responsibility rules and advises asset managers, broker-dealers and investment bankers with respect to the many and varied services and financial products (including complex structured products and derivatives) they offer to U.S. pension plans. She also counsels hedge fund and private equity clients on the consequences of accepting investments by benefit plan investors, as well as plan asset and prohibited transaction concerns arising in connection with venture capital investments and corporate transactions. In addition, Ms. Cho advises plan sponsors on all aspects of ERISA fiduciary compliance, including plan governance, plan expense issues and the selection and monitoring of plan investment options. Ms. Cho also represents clients on exemption requests and regulatory initiatives before the Department of Labor's Employee Benefits Security Administration. Prior to joining Groom Law Group, Ms. Cho was with Davis Polk & Wardwell LLP.
David Olstein's practice focuses on the fiduciary responsibility provisions of ERISA. His range of experience includes advising investment committees, asset managers and other service providers on fiduciary matters, including compliance with ERISA's prohibited transaction rules, in connection with the investment of pension plan assets. He also has substantial experience advising fund sponsors on ERISA matters, including the application of ERISA's "plan asset" rules, in connection with the establishment and operation of private investment funds. Mr. Olstein is a contributing author to the Second Edition of ERISA Fiduciary Law and is a long-time member of the New York City Bar Association Committee on Employee Benefits and Executive Compensation. Prior to joining Groom Law Group, Mr. Olstein was a counsel at Skadden, Arps, Slate, Meagher & Flom LLP.
Michael Prame, Executive Principal at Groom, stated, "Our Fiduciary Practice group has long been recognized for its excellence. The practice area continues to experience significant growth, with longstanding and new clients looking to us for practical advice on the evolving legal standards, including those surrounding the investment of ERISA assets. Erin and David are terrific additions to our team as they have a wealth of experience representing financial institutions, asset managers and plan fiduciary committees."
Jennifer Eller, co-head of the firm's Fiduciary Responsibility group, added, "We are thrilled to welcome Erin and David to the Fiduciary Responsibility group. As our retirement industry clients continue to face greater regulatory uncertainty, we continue to add depth and breadth to the practice group. Erin and David each bring a set of complementary skills and experiences that will enable us to help our clients in this challenging environment."
"I am delighted to join Groom Law Group. I was not only attracted to the breadth of interesting and sophisticated work but also to a firm culture that is committed to excellence, collaboration and team work," said Ms. Cho.
Mr. Olstein added, "No other firm can match the breadth and depth of Groom's experience with ERISA's fiduciary responsibility and prohibited transaction provisions. I am excited at the opportunity to work with such an impressive group of attorneys and look forward to contributing to the continued success of the firm."
The attorneys in Groom's Fiduciary Responsibility group have helped shape virtually every major legislative and regulatory initiative related to ERISA fiduciary responsibility provisions. The group advises Fortune 500 plan sponsors and every type of service provider, including insurance companies, broker dealers, banks, mutual fund companies and recordkeepers.
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SOURCE Groom Law Group, Chartered