David Olstein
Partner Corporate & Finance
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Overview
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Experience
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Credentials
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Insights and events
David Olstein’s practice focuses on the fiduciary responsibility provisions of ERISA and the prohibited transaction excise tax provisions of the Internal Revenue Code. He has an extensive background advising financial institutions, plan sponsors, and investment committees on ERISA matters, including compliance with ERISA’s fiduciary duty and prohibited transaction rules, in connection with the investment of pension plan assets.
David regularly advises fund sponsors on the application of ERISA’s “plan asset” rules as they relate to the establishment and operation of private investment funds. From representing issuers and underwriters in connection with marketing securities to investors, to advising plan sponsors and independent fiduciaries in connection with the selection of annuity providers, David offers substantial experience at the intersection of ERISA and fiduciary responsibility.
David is an active member of the American Bar Association’s Section of Taxation and the New York City Bar Association’s Employee Benefits & Executive Compensation Committee. He was a contributing author to the BNA treatise ERISA Fiduciary Law, and has authored or co-authored articles that have been published in the Employee Relations Law Journal, Employee Benefit News and Thompson Reuters Practitioner Insights.
A source reports to Chambers USA, “David Olstein pairs superior client service with top-tier subject matter expertise – the exact combination you want from your lawyer.” Another reports, “he's thoughtful, diligent and willing to stake out an opinion on tougher matters.”
A source also reports to The Legal 500, “David Olstein is very detail oriented. His technical understanding and application of ERISA to complex fiduciary transactions is impressive. He leaves no stone unturned in delivering ERISA advice.”
Representative experience
Advising fiduciaries, trustees, investment managers, broker-dealers and custodians on compliance with the fiduciary responsibility provisions of ERISA and Section 4975 of the Internal Revenue Code.*
Advising IRA owners and trustees on matters relating to compliance with Section 408, Section 408A and Section 4975 of the Internal Revenue Code.*
Advising managers of private investment funds on matters relating to compliance with exceptions under the Department of Labor “plan assets” regulation.*
Drafting ERISA provisions of private investment fund organizational and offering documents.*
Drafting opinion letters regarding VCOC/REOC status of private investment funds.*
Advising issuers and underwriters on matters relating to compliance with exceptions under the Department of Labor “plan assets” regulation and prohibited transaction exemptions.*
Preparing prohibited transaction exemption applications.*
Credentials
- J.D., University of Virginia School of Law
- B.A., Johns Hopkins University
- New York
- District of Columbia
- Member, American Bar Association, Section of Taxation
- Member, New York City Bar Association, Employee Benefits & Executive Compensation Committee
- Member, District of Columbia Bar Association