Securities Products of Insurance Companies in the Face of Regulatory Reform 2010

Overview

Recently admitted NY attorneys: This program is accredited for transitional CLE credit

Why You Should Attend

The insurance industry has been one of the focal points of economic analysis over the last year, as well as the subject of several initiatives for regulatory change.  This timely program provides critical content to the prevailing and changing legal issues practitioners must understand. As the regulatory regimes that govern securities products and asset management services offered by insurance company complexes undergo significant changes, the regulatory requirements have expanded.   Our stellar faculty will provide you with a clear understanding of the important developments in this evolving and dynamic field of law.

What You Will Learn

• The latest on recent regulatory developments as outlined by an Associate Director and an Assistant Director of the SEC’s Division of Investment Management
• The fundamentals of variable insurance products
• The latest developments in mutual funds and pension products
• The SEC’s assertion of jurisdiction over indexed products
• How to use the SEC’s new summary prospectus
• Insights into the genesis of the SEC’s latest rule proposals under the 1940 Act
• About the SEC’s and other Federal agencies’ expanding jurisdiction over insurance products and insurance companies
• Specialized funding vehicles: Synthetic annuities, target date funds and more
• Updates on critical issues facing the insurance market
• How DOL and Congress are trying to protect retirement plan participants
• What the states are doing to police insurance agents
• Hear the latest on the SEC agenda
• Explore ethical issues applicable to broker-dealers and investment advisers and suitability versus fiduciary standards

Who Should Attend

This seminar is designed to provide a context for recent entrants to familiarize themselves with the legal landscape for securities products and services and for experienced attorneys and compliance personnel to keep current with the changing regulatory environment.  Attorneys advising insurance companies, mutual funds, insurance agencies, broker-dealers, and investment advisers will find that this program significantly contributes to their skills.

Special Features

Live Webcast - Simultaneous live webcast of the New York session is available for individual viewing. Webcast participants will receive streaming audio and/or video of the program, view and print the Course Handbook, and have the ability to submit questions electronically.
 
For more information click on the Live Webcast link in the Related Items box.

Please Note: Webcast attendees will receive a downloadable version of the Handbook one business day prior to the program.

Special Bonus to all Registrants

All attendees receive a complimentary copy of PLI's comprehensive Course Handbook. This softcover, bound volume was written to augment this program and to stand alone as a permanent reference. PLI's Course Handbooks represent the definitive thinking of the nation's finest legal minds, and are often the standard reference in the field.

PLI Group Discounts

Groups of 4-14 from the same organization, all registering at the same time, for a PLI program scheduled for presentation at the same site, are entitled to receive a group discount. For further discount information, please contact membership@pli.edu or call (800) 260-4PLI.

PLI Can Arrange Group Viewing to Your Firm

Contact the Groupcasts Department via email at groupcasts@pli.edu for more details.

Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Schedule

Please plan to arrive with enough time to register before the conference begins. A networking breakfast will be available upon your arrival.

Morning Session:  8:45 a.m. - 12:15 p.m.

8:45  Introduction and Securities Status and Classification of Insurance Products

• Indexed products and the SEC’s Rule 151A
• Synthetic Annuities
• Reporting obligations under the 1934 Act

Ralph D. Spaulding, Susan S. Rhee, Joan E. Boros

10:00  Regulation of Variable Products under the 1940 Act

• A primer
• Square peg/round hole

Stephen E. Roth, Aneal V. Krishnamurthy

11:00  Break

11:15  Legislative and Regulatory Change

• Treasury’s White Paper
• Office of National Insurance within Treasury
• Optional federal charter legislation
• Financial Products Consumer Protection Agency
• Financial Services Oversight Council and systemic risk
• Regulation of derivatives

J. Lee Covington II, Lorna MacLeod, James Segel

12:15  Lunch

Afternoon Session:  1:15 p.m. - 5:30 p.m.

1:15  Regulation and Ethics in the Distribution of Insurance/Securities Products

• FINRA Rule 2821 and suitability
• Synchronization of broker-dealer and investment adviser regulation
• Ethical practices in distribution

Carl B. Wilkerson, James R. Mumford

2:15  Pension and Tax Developments

• New disclosure standards
• Legislative reform
• Stable value funds
• Qualified default investment alternatives
• Legislative changes in product taxation

Stephen M. Saxon, Joseph Francis McKeever III

3:15  Break

3:30  Underlying Funds

• Trends in insurance-dedicated funds
• Target Date Funds
• Standards for advisory fees
• Summary prospectus

Amy Lancellotta, Robert E. Plaze, Jeffrey S. Puretz

4:30  The SEC Agenda

• Office of Insurance Products
• Disclosure reform
• Rulemaking agenda
• Money market funds
• Rule 12b-1

Robert E. Plaze, William J. Kotapish, Joan E. Boros, Jeffrey S. Puretz

5:30  Adjourn

Faculty

Co-Chair(s)

Joan E. Boros, Of Counsel, Jorden Burt LLP
Jeffrey S. Puretz, Partner, Dechert LLP

Speaker(s)

J. Lee Covington II, Senior Vice President and General Counsel, Insured Retirement Institute
William J. Kotapish, Assistant Director; Office of Insurance Products, U.S. Securities and Exchange Commission
Aneal V. Krishnamurthy, Dykema Gossett PLLC
Amy Lancellotta, Managing Director of the Independent Directors Council, Investment Company Institute
Lorna J. MacLeod, Dewey & LeBoeuf LLP
Joseph F. McKeever, III, Davis & Harman LLP
James Mumford, First Deputy Insurance Commissioner & Securities Administrator, Iowa Insurance Division
Robert E. Plaze, Associate Director, Division of Investment Management, U.S. Securities and Exchange Commission
Susan S. Rhee, Jackson National Life Insurance Company
Stephen E. Roth, Sutherland Asbill & Brennan LLP
Stephen M. Saxon, Groom Law Group, Chartered
James Segel, Special Counsel to the Chairman of the Financial Services Committee, Special Counsel Cong Barney Frank
Ralph D. Spaulding ,. J.D., CLU, ChFC, Supervising Insurance Attorney, Life Bureau - NYS Insurance Dept
Carl B. Wilkerson, Vice President and Chief Counsel, Securities and Litigation, American Council of Life Insurers

Program Attorney(s)

Meghan C. Forgione, Practising Law Institute

CLE Credit

Travel Information

New York City Seminar Location

PLI New York Center, 810 Seventh Avenue at 53rd Street (21st floor), New York, New York 10019. Message Center, program days only: (212) 824-5733.

New York City Hotel Accommodations

The New York Hilton & Towers, 1335 Avenue of the Americas, New York, NY 10019. 1 block from PLI Center. Reservations 1-800-HILTONS or, 1-877-NYC-HILT. Please mention that you are booking a room under the Practising Law Institute Corporate rate and the Client File # is N495741. Reservations on line at www.hilton.com and enter the same Client File # in the Corporate ID # field to access Practising Law Institute rates.

The Warwick New York Hotel, 65 West 54th Street New York, NY 10019. 1 block from PLI Center. Reservations 800-223-4099 or, hotel direct 212-247-2700. Please mention that you are booking a room under the Practising Law Institute Corporate rate. Reservations on line at www.warwickhotelny.com Click reservations in menu bar on left. Select desired dates. In 'Special Rates' drop down window select Corporate Rate. In 'Rate Code' enter PLIN. Click search and select desired room type and rate plan. Or, you may email reservation requests to: res.ny@warwickhotels.com.