Practices
Mr. Fay is a partner in Seward and Kissel’s ERISA and Employee Benefits & Executive Compensation group.
Mr. Fay routinely counsels clients regarding the investment of plan assets and related issues including ERISA fiduciary duties, prohibited transactions and the structuring of financial products for ERISA considerations. He advises on ERISA’s Plan Assets Regulation and provides assistance to clients with respect to the application of ERISA’s fiduciary duties and the prohibited transaction rules. He also represents both lenders and borrowers with respect to the ERISA provisions in financing documents. Mr. Fay regularly counsels financial services firms and plans regarding complex ERISA fiduciary matters including clients choosing to operate funds or manage accounts in compliance with ERISA.
Mr. Fay also advises tax-exempt, for-profit and governmental entities with respect to their qualified and nonqualified benefit plans, executive compensation and other employee benefit concerns. His practice focuses on ERISA and Internal Revenue Code compliance. He provides assistance regarding employee benefits and executive compensation matters relating to mergers, acquisitions and other related transactions.
Publications
- Co-authored, “DOL Updates Procedures for Prohibited Transaction Exemption Applications,” Seward & Kissel (January 31, 2024)
- Co-authored, “DOL Proposes to Expand the Definition of an ERISA Fiduciary,” Seward & Kissel (November 28, 2023)
- Co-authored, “Action Steps for Managers of Private Investment Funds Subject to ERISA Prior to December 1, 2023 to Address the DOL’s Rule Regarding Proxy Voting,” Seward & Kissel (September 25, 2023)
- Co-authored, “DOL Publishes Final Rule Regarding ESG Investing and Proxy Voting,” Seward & Kissel (January 20, 2023)
- Co-authored, “SEC Adopts Executive Compensation Clawback Rules,” Seward & Kissel (November 9, 2022)
- Co-authored, “DOL Proposes an Amendment to the QPAM Exemption,” Seward & Kissel (July 29, 2022)
- Co-authored, “DOL Amends Six Class Exemptions to Eliminate References to Credit Ratings,” Seward & Kissel (March 28, 2022)
- Co-authored, “The DOL Cautions Extreme Care When ERISA Fiduciaries Consider Offering Cryptocurrency as a 401(k) Plan Investment Option,” Seward & Kissel (March 14, 2022)
- Co-authored, “DOL Fiduciary Rule Covering IRA Rollovers,” Seward & Kissel (November 11, 2021)
- Co-authored, “DOL Proposes a Regulation Regarding ESG Investing and Proxy Voting,” Seward & Kissel (November 9, 2021)
- Co-authored, “Seward & Kissel LLP – ERISA Guidebook (Fall – Winter 2021)” Seward & Kissel (September 1, 2021)
- Co-authored, “DOL Provides Enforcement Policy Statement Regarding the Recent Final Regulations on ESG Investments and Proxy Voting,” Seward & Kissel (March 16, 2021)
- Co-authored, “The Department of Labor (DOL) Finalizes Two ERISA Fiduciary Regulations before the Change in Administrations,” Seward & Kissel (December 20, 2020)
- Co-authored, “The Department of Labor Issues Proposed Regulation Regarding Proxy Voting and Shareholder Rights,” Seward & Kissel (September 20, 2020)