Investment management activities of banks and other financial institutions, with emphasis on unregistered pooled investment vehicles, ERISA fiduciary responsibility, federal and state regulation of fiduciary activities, and related securities law and tax matters.
William Wade advises banks, trust companies, investment advisers, and other financial institutions in regard to the creation, operation, and regulation of investment management products and services for individual and institutional investors. Substantive experience includes federal (Regulation 9) and state-law regulation of fiduciary activities, bank-sponsored common and collective investment funds (“CIFs’), ERISA fiduciary responsibility matters relevant to separately managed accounts and pooled investment vehicles, securities law exclusions and exemptions applicable to CIFs and other unregistered pooled vehicles and activities, and tax matters related to CIFs (e.g., Code and IRS requirements applicable to common trust funds and “group trusts” for employee benefit plans).
Prior to entering private practice in 1988, ten years’ in-house experience with Office of General Counsel of large financial institution, where responsibilities included advising trust and investment management departments and affiliates.
- "Private Equity in 401(k) Plans - A Trillion Dollar Opportunity?," Journal of Investment Compliance, December 2020
- "Bank Sponsored Collective Investment Funds: Multi-Dimensional Regulation," American Bankers Association, January 2015
- "Wealth Management and Personal Trust Business Lines with a Focus on Calculating Revenue Under the "Chiefly Compensated" Test," American Bankers Association, presented via webinar, October 24, 2007
- "ERISA Lite? New Opportunities and Challenges for Hedge Fund and Pension Plan Investment Managers," presented via webinar, October 3-4, 2006
- “Easy In, Easy Out? Scope of ERISA Class Exemptions in Question,” The Investment Lawyer, June 2002
- “The Group Trust – An Essential Product For Money Managers,” The Investment Lawyer, January 2000
- “Bank-Sponsored Collective Investment Funds: An Analysis of Applicable Federal Banking and Securities Laws,” America Bar Association Business Lawyer, 1980