Broni Grala's practice is primarily related to ERISA and similar employee benefit matters. He has unusually broad experience in the area of ERISA fiduciary responsibilities and obligations, and the tax and ERISA implications of various plan investments and investment formats. This experience is primarily a function of Broni serving as ERISA counsel to third-party plan asset managers, broker-dealers, and investment bankers who provide services or investment products to employee benefit plans.
Broni counsels and advises plan asset managers on their fiduciary responsibilities, prepares investment policies and procedures for plan asset managers, and helps design investment products targeted for plans, both "tangible" products such as new securities and real estate ventures, and investment strategies. Working with others at Cadwalader, he has helped structure venture capital operating companies, real estate operating companies, commodity pools, hedge funds, farmland programs, and other investment vehicles to attract ERISA investors. Broni has extensive experience in dealings with the Employee Benefits Security Administration in the U.S. Department of Labor (DOL).
Among other services to clients, he has successfully obtained numerous DOL advisory opinions and prohibited transaction exemptions and was one of a small number of attorneys responsible for obtaining the initial ERISA relief to allow funds to purchase private label residential mortgage pass-through certificates. Shortly thereafter, he helped obtain broad relief from ERISA regulations for Freddie Mac's mortgage securitization program. Broni was among those responsible for obtaining the first ERISA exemptions for the sale of asset-backed securities to ERISA plans, he helped obtain the first exemptions specifically designed for securitized credit card receivables, and he has worked on DOL exemptions involving securities lending, notional principal ("swaps") contracts, innovative option products, and many other investment products and practices.
With 39 years of experience, Broni is an expert in ERISA and related pension law. He was named 2012 Lawyer of the Year for New York City Employee Benefits (ERISA) by Best Lawyers - only a single lawyer in each specialty in each community is so honored. He is consistently listed in Band1 of Chambers USA America's Leading Business Lawyers both Nationwide and New York, wherein he is praised as "a preeminent figure in the fiduciary world" and "invaluable in terms of giving the broader view based on his extensive experience." He was also chosen by Super Lawyers as a leading attorney in Employee Benefits/ERISA, cited by his peers as one of the "World's Leading Labor and Employment Lawyers" (Euromoney Publications), selected to Best Lawyers in America each year for more than 10 years, and was named in a poll by The National Law Journal as a "top benefits lawyer." In 2000, upon its founding, Broni was selected as a Charter