Recent developments have made familiarity with securities law a valuable commodity for benefits lawyers. Law360 reports that such knowledge proves to be key when employers need advice on offering company stock to workers, managing ESOPs and following executive compensation regulations without accruing fines or getting sued. The publication spoke with benefits and executive compensation partner Fred Reish on the phenomenon.
Reish reports that, while benefits attorneys sometimes defer to securities lawyers on such issues, they increase their value when they can answer certain fundamental questions themselves.
"It's not very satisfying for a client to hear, 'Here's what ERISA says — now go to a securities lawyer and resolve your other issues.' That's frustrating," he said.