Carl Wilkerson principally addresses federal securities matters and financial service institution issues that have an impact on life insurance companies. He works closely with the various securities, market conduct, investments, and anti-money laundering committees of the ACLI in developing regulatory solutions, and in addressing legislative and administrative actions. He manages ACLI’s amicus litigation functions.
Mr. Wilkerson represented ACLI on the Dodd-Frank Act concerning derivatives reform, the broker-dealer standard of care, investment adviser self-regulation, and the subsequent rulemaking implementation. He worked closely with the Department of Treasury regarding anti-money laundering compliance for the life insurance industry. Mr. Wilkerson helped shape the Uniform Securities Act of 2002 on behalf of life insurers, and served as an Official Observer on the Uniform Securities Act Drafting Committee of the National Conference of Commissioners on Uniform State Laws (NCCUSL). He contributed to the development of the Insurance Marketplace Standards Association (IMSA), a voluntary membership organization supporting the Principles and Code of Ethical Market Conduct together with an assessment process verifying compliance.
Recent activities include SEC regulation of variable life insurance and variable annuities, adoption of the new Uniform Securities Act in state legislatures, state and federal regulation of financial planners, FINRA regulation of insurance broker-dealers, market conduct issues, and CFTC regulation of commodity pool operators, commodity trading advisers, and derivative instruments. Mr. Wilkerson supports ACLI’s CEO Task Force on Annuities in the development of enhanced annuity suitability, supervision and disclosure.
Mr. Wilkerson served as Co-Chair of the ABA Subcommittee on Securities Activities of Insurance Companies of the Committee on Federal Regulation of Securities, and as Board Member and Securities Section Chair of the Association of Life Insurance Counsel (ALIC). Currently, he serves as Secretary-Treasurer of ALIC. He served as a member of the Bank Secrecy Act Advisory Group (BSSAG) of the Financial Crimes Enforcement Network (FinCEN) of the Department of Treasury for a six year term through 2011, and co-chaired the BSSAG Insurance Subcommittee.
Prior to joining the ACLI, he was a staff attorney at the United States Securities and Exchange Commission in the Division of Investment Management. Responsibilities at the SEC involved the regulation of investment companies and investment advisers under the federal securities laws.
Mr. Wilkerson graduated magna cum laude from the University of Maryland with a B.S. degree in Finance. He earned a masters in law (LL.M.) at the Georgetown University Law Center in the securities regulation discipline, and his J.D. degree from Catholic University Law School, where he was a member of the Law Review.