In recent years, a number of professional service firms (including law firms and consulting firms) have established employees’ securities companies, or “ESC’s” which can provide their employees with benefits intended to compete with those offered by certain other industries, such as investment banking and financial services. This article describes in summary the process of establishing an ESC, the eligibility criteria for an ESC and the types of investments in which ESCs may participate. It also discusses recent trends in the ESC process.
Reprinted with permission from the November 24, 2023 edition of New York Law Journal © 2023 ALM Global Properties, LLC. All rights reserved. Further duplication without permission is prohibited, contact 877-256-2472 or asset-and-logo-licensing@alm.com.