Life Insurance Company Products

Size: px

Start display at page:

Download "Life Insurance Company Products"

Joleen Parrish
6 years ago
Views:

dvanced ALI CLE Conference The American Law Institute Continuing Legal Education Life Insurance Company Products Featuring Current SEC, FINRA, Insurance, Tax, and ERISA Regulatory and Compliance

Get in-depth, practical updates on today s most significant and problematic issues while networking with professionals from across the financial services industry, including insurance companies,

1 dvanced ALI CLE Conference The American Law Institute Continuing Legal Education Life Insurance Company Products Featuring Current SEC, FINRA, Insurance, Tax, and ERISA Regulatory and Compliance Issues Wednesday-Friday, October 31 - November 2, 2012 (Washington Plaza Hotel) A conference for life insurance professionals by life insurance professionals. Get in-depth, practical updates on today s most significant and problematic issues while networking with professionals from across the financial services industry, including insurance companies, broker-dealers, investment advisers, mutual fund organizations and the agencies that regulate them. Highlights include: An introductory segment on insurance product regulation Analysis by leading industry CEOs of the evolving financial services landscape A keynote address by the SEC s new Director of its Division of Investment Management Eight presentations on the hottest topics affecting your business, including Annuity Disclosure Reform, Indexed Products, De-Risking of Variable Products, Unclaimed Property, DOL Disclosure Requirement, and Dodd-Frank and JOBS Act Implementation A new two hour Compliance Workshop with compliance regulators and professionals An outstanding faculty of 38 leading industry professionals and senior representatives of the SEC, FINRA, the U.S. Treasury, and state insurance departments ALI-ABA is now ALI CLE

2 Planning Chairs Keynote Speaker Richard T. Choi Faculty Stephen E. Roth Sutherland Asbill & Brennan LLP, Norm Champ Director, Division of Investment Management, U.S. Securities and Exchange Commission, Zandra Y. Bailes Commission, (invited) George H. Bostick Benefits Tax Counsel, U.S. Department of the Treasury, (invited) Andrew J. Bowden Associate Director, Office of Compliance Inspections and Examinations, U.S. Securities and Exchange Commission, Mark S. Casady Chairman and CEO, LFP Financial Holdings Inc., Boston Gary O. Cohen Maureen Closson Senior Compliance Officer, AVIVA USA, Des Moines, Iowa J. Lee Covington, II Senior Vice President and General Counsel, Insured Retirement Institute John Doscher Vice President, Compliance, Prudential Financial, Inc., Newark, New Jersey Ruth S. Epstein Stradley, Ronan, Stevens & Young, LLP, Merri Jo Gillette Regional Director, U.S. Securities and Exchange Commission, Chicago Dennis R. Glass President and CEO Lincoln Financial Group, Radnor, Pennsylvania Michael L. Hadley Davis & Harman LLP, Sarah A. Holden, Ph.D. Senior Director, Retirement and Investor Research, Investment Company Institute, Frank Knox Compliance Officer, John Hancock Funds, Boston Michael L. Kosoff Commission, William J. Kotapish Assistant Director, Division of Commission, Marvin C. Chip Lunde, III Eric L. Marhoun Senior Vice President and General Counsel, Old Mutual Life Insurance Company, Baltimore James R. Mumford First Deputy Commissioner, Division of Insurance and Securities Administrator, State of Iowa, Des Moines Susan Nash Associate Director, Division of Commission, Stephanie Nicolas Wilmer Cutler Pickering Hale and Dorr LLP, Abigail Pancoast Counsel, Lincoln Financial Group, Philadelphia Thomas A. Pappas Vice President and Director, Advertising Regulation, Financial Industry Regulatory Authority (FINRA), Joyce M. Pickholz Commission, Jeffrey S. Puretz Dechert LLP, Robert L. Reynolds President and CEO, Putnam Investments, Boston Daniel M. Sibears Executive Vice President, Member Regulation, Financial Industry Regulatory Authority (FINRA),

3 Program All Times are Eastern Wednesday, October 31, 2012 Carol L. Stern Compliance Officer, ING US Insurance, Joseph Torti III Deputy Director and Superintendent of Insurance, Rhode Island Department of Business Regulation, Cranston Barbara Ulbrich Counsel, State Farm Life Insurance Company, Bloomington, Illinois John H. Walsh Sutherland Asbill & Brennan LLP, Carl B. Wilkerson Counsel Securities and Litigation, American Council of Life Insurers, Mary Jane Wilson-Bilik Sutherland Asbill & Brennan LLP, James Wrona Vice President and Associate General Counsel, Financial Industry Regulatory Authority (FINRA), Frank Zhang Vice President, Risk Management, Pacific Life Insurance Company, Los Angeles ALI CLE Program Attorney: Thomas M. Hennessey 6:00 p.m. Early Registration 6:30 p.m. Introduction to the Insurance Product Securities Regulatory Framework: A Workshop with Conference Co-Chairs 8:30 p.m. Adjournment for the Day Thursday, November 1, :30 a.m. Registration and Continental fast 8:45 a.m. Welcome and Announcements 9:00 a.m. Keynote Address 9:30 a.m. Annuity Disclosure Reform: Implications of the SEC s Financial Literacy Report, the Point-of-Sale Summary Prospectus and Abbreviated Annual Update, and the Annuity Buyer s Guide 10:45 a.m. Networking and Refreshment 11:00 a.m. State Insurance Regulatory Developments: Unclaimed Property, Contingent Deferred Annuities, Use of Separate Accounts with Guaranteed Products, and ORSA 12:15 p.m. Lunch 1:45 p.m. Indexed Products Post-Harkin: Recent Developments in Product Design and State and SEC Regulation 2:45 p.m. Networking and Refreshment

4 3:00 p.m. Retirement Market Developments: Guaranteed Lifetime Income in Defined Contribution Plans, New Required Participant and Service Provider Disclosures, and Fiduciary Investment Advice 4:00 p.m. Networking and Refreshment 4:15 p.m. De-Risking, Re-Risking and Hedging Variable Products: The Recent Evolution in Living Benefit Riders, Low Volatility Funds, Buy-Backs, Exchanges, and Related Regulatory Issues 5:30 p.m. Adjournment for the Day; Networking Reception for Faculty and Registrants Friday, November 2, :30 a.m. Registration and Continental fast 8:30 a.m. Compliance Workshop Part 1: Regulators Panel on Hot Topics in Compliance for Insurance Products and Recent SEC and FINRA Examination Focus 11:00 a.m. Executive Forum: Industry CEOs Share Their Insights and Predictions Regarding the Financial Services Landscape and Investment Product Evolution 12:00 noon Lunch 1:30 p.m. Legislative Developments: The Dodd-Frank Act, the JOBS Act, the FIO, and Implications of Its Report 2:45 p.m. Networking and Refreshment 3:00 p.m. Disclosure Review with SEC Branch Chiefs 3:45 p.m. Advertising, Suitability, Supervision, and Other Key Product Distribution Issues 4:30 p.m. Adjournment Total 60-minute hours of instruction: 14, including one full hour on ethics and professional responsibility issues, accepted as such by most, but not all, MCLE jurisdictions CPE credit hours in Business Law (live group and group-internet-based program) 9:30 a.m. Networking and Refreshment 9:45 a.m. Compliance Workshop Part 2: Compliance Professionals Panel Addressing Hot Topics and Industry Best Practices 10:45 a.m. Networking and Refreshment

5 Here s what registrants said about last year s presentation of this course: As always, ALI-ABA hits it out of the park. This is, and has been for years, the best seminar on life insurance company products out there by far. I still try to attend every year, and I ve been in financial services for over 20 years. Keep up the good work! Carol Dunn The best conference I have attended in years! Another great conference full of relevant information. Craig Ruckman, Commission This is a high-quality substantive conference that has maintained a high standard of excellence over many years. It s a Best Value conference. I have been attending this course for many years now and consider it the best and most informative I attend each year. Even though I am not an attorney, I value the presentations and material and find it extremely valuable in my role as a compliance officer. It is always on pertinent and helpful topics and provides me with much relevant and helpful information. On location: Maximize your CLE experience. Learn from the best and network with other serious practitioners. Register one person from your firm for this course and get all subsequent registrations at 50% off. Up to 50% off from ALI CLE superb instruction and practical advice available in multiple formats providing numerous ways to further your knowledge while satisfying your CLE requirements Webcast: Can t attend? Register for the live webcast or any of its segments and participate by asking questions online, in real time, and get our famous course materials via searchable PDF. Interrupt your viewing at any time and catch up later with the free online archive. Get all the information you need, and satisfy your CLE needs, without leaving your office. $1,099 Group Webcast: Schedule a convenient group viewing of this course for two or more people and save on tuition. Provide your firm or department with access to the finest legal talent and train more people at a lower cost without the additional expense or time constraints of travel. Up to 30% off On-demand CLE: Online audio and/or video and searchable (PDF) course materials are available 24/7 for every course and course segment. Free To Registrants DVD / CD-ROM / Audio MP3 Watch or listen to ALI CLE s renowned courses in your car, home, or office on your computer, DVD player, or MP3 player at your own pace. $899 / $699 Print + Digital Course Materials ALI CLE s acclaimed course materials are available in print or electronically and can be purchased before or after the course. $199

6 how to register online phone CLE NEWS fax mail return the form on the back panel of this brochure to: REGISTRAR, ALI CLE, 4025 Chestnut Street, Philadelphia, PA GET MANDATORY CLE AND CPE CREDIT Virtually all ALI CLE programs receive CLE credit in AK, AL, AR, AZ, CA, CO, DE, FL, GA, HI, IA, IL, IN, KS, KY, LA, ME, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, PA, RI, SC, TN, TX, UT, VA, VT, WA, WI, and WV. Upon request, ALI CLE will apply for CLE credit in ID, OR, and WY. This course is expected to qualify for 14 credits, including one ethics credit, in 60-minute MCLE jurisdictions; and for 16.8 credits, including 1.2 ethics credits, in 50-minute MCLE jurisdictions. In NY, this course is appropriate for both newly admitted and experienced attorneys. For specific information on CLE, CPE, or other professional accreditation in your state, please the MCLE Team at go to or call CLE-NEWS. NASBA ALI CLE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN Web site: For more information regarding ALI CLE s administrative policies, such as complaint and refund, please call Customer Service at (800) CLE-NEWS. CPE credit hours for this course: 16.5 in Business Law (group-live and group-internetbased program). Learning Objectives: Acquisition of knowledge and skills to develop proficiency as a practitioner; maintenance of professional competence as a practitioner; provision of information on recent developments. Suggested Prerequisite: Limited experience in practice in subject matter or completion of Basic CLE/ CPE Course in subject matter. Level of Instruction: Advanced HOTEL ACCOMMODATIONS A limited block of rooms has been reserved at the Washington Plaza Hotel. Room rate: $269 per night single occupancy or $289 per night double occupancy. These rooms will be held as a block, unless exhausted, until October 15, at which time they will be released to the general public. Registrants must make their own hotel reservations and indicate that they are attending the ALI CLE Course of Study to qualify for rooms in the block. Room reservations may be made by calling the Washington Plaza, 10 Thomas Circle, NW, 20005; phone Confirmations will be sent by the hotel. Please read the cancellation policy carefully. Go to for more info about: registration/cancellation/requirements for persons with disabilities/scholarships ALSO FROM ALI CLE: The Independent Broker-Dealer Legal and Compliance Forum September 14, 2012 New York and Video Webcast CU023 Conference on Life Insurance Industry Class Actions and Complex Litigation September 20-21, 2012 Cambridge, MA and Video Webcast Investment Adviser Regulation: Legal and Compliance Forum Focusing on Institutional Advisory Services December 6, 2012 New York and Video Webcast NETWORKING OPPORTUNITIES Networking is an important reason to attend this and every other ALI CLE course of study. The registrants for last year s presentation of this course came from 28 states! SOCIAL NETWORKING Start interacting with other course registrants and faculty through these social networking tools. Post topics you would like to see covered during the course, discuss hot topics, and make lunch and dinner plans with other on-site attendees. LinkedIn: Twitter: CLIR12

7 Planning Chairs Keynote Speaker Richard T. Choi Faculty Stephen E. Roth Sutherland Asbill & Brennan LLP, Norm Champ Director, Division of Investment Management, U.S. Securities and Exchange Commission, Zandra Y. Bailes Commission, (invited) George H. Bostick Benefits Tax Counsel, U.S. Department of the Treasury, (invited) Andrew J. Bowden Associate Director, Office of Compliance Inspections and Examinations, U.S. Securities and Exchange Commission, Mark S. Casady Chairman and CEO, LFP Financial Holdings Inc., Boston Gary O. Cohen Maureen Closson Senior Compliance Officer, AVIVA USA, Des Moines, Iowa J. Lee Covington, II Senior Vice President and General Counsel, Insured Retirement Institute John Doscher Vice President, Compliance, Prudential Financial, Inc., Newark, New Jersey Ruth S. Epstein Stradley, Ronan, Stevens & Young, LLP, Merri Jo Gillette Regional Director, U.S. Securities and Exchange Commission, Chicago Dennis R. Glass President and CEO Lincoln Financial Group, Radnor, Pennsylvania Michael L. Hadley Davis & Harman LLP, Sarah A. Holden, Ph.D. Senior Director, Retirement and Investor Research, Investment Company Institute, Frank Knox Compliance Officer, John Hancock Funds, Boston Michael L. Kosoff Commission, William J. Kotapish Assistant Director, Division of Commission, Marvin C. Chip Lunde, III Eric L. Marhoun Senior Vice President and General Counsel, Old Mutual Life Insurance Company, Baltimore James R. Mumford First Deputy Commissioner, Division of Insurance and Securities Administrator, State of Iowa, Des Moines Susan Nash Associate Director, Division of Commission, Stephanie Nicolas Wilmer Cutler Pickering Hale and Dorr LLP, Abigail Pancoast Counsel, Lincoln Financial Group, Philadelphia Thomas A. Pappas Vice President and Director, Advertising Regulation, Financial Industry Regulatory Authority (FINRA), Joyce M. Pickholz Commission, Jeffrey S. Puretz Dechert LLP, Robert L. Reynolds President and CEO, Putnam Investments, Boston Daniel M. Sibears Executive Vice President, Member Regulation, Financial Industry Regulatory Authority (FINRA),

8 Conference on Life Insurance Company Products This advanced two-day conference is designed for insurance industry professionals who need to stay abreast of key legal, legislative, and compliance developments affecting annuities, life insurance, and related investment products. Our powerhouse faculty of industry professionals, state and federal regulators, and private practitioners address all the key developments and issues, including: An intensive two-hour compliance workshop with SEC and FINRA regulators and industry CCOs on hot topics and best practices A special Executive Forum on the evolving financial services landscape with industry chief executives Mark Casady of LFP Financial Holdings, Dennis Glass of Lincoln Financial, and Robert Reynolds of Putnam Investments A keynote address from the newly appointed Director of the SEC s Division of Norm Champ A dialogue with SEC branch chiefs to glean practical guidance for the upcoming annual update season, disclosure red flags, frequently given comments, and best practices to get your products to market on time Indexed product developments, including recent design trends, illustration issues, suitability best practices, and emerging state securities and SEC issues Current efforts to de-risk, re-risk, and hedge SEC registered insurance products including buy-backs, low volatility funds, and new rider designs and the related regulatory issues Multi-state market conduct examinations of unclaimed property, NAIC consideration of separate account insulation for guaranteed products, and NAIC study of contingent deferred annuities Implications of the SEC s Financial Literacy Study and other SEC disclosure developments, including the VA summary offering prospectus and summary annual update prospectus Retirement marketplace developments, including recent Treasury and DOL proposals and the role of annuities as a source of guaranteed lifetime income for plan participants Advertising, suitability, supervision, and other key product distribution developments The impact of the JOBS Act, Dodd-Frank derivatives regulation, and the Volcker Rule on insurance companies and their products The role of Federal Insurance Office and the possible implications of its report on life insurance company products

9 Program All Times are Eastern Wednesday, October 31, 2012 Carol L. Stern Compliance Officer, ING US Insurance, Joseph Torti III Deputy Director and Superintendent of Insurance, Rhode Island Department of Business Regulation, Cranston Barbara Ulbrich Counsel, State Farm Life Insurance Company, Bloomington, Illinois John H. Walsh Sutherland Asbill & Brennan LLP, Carl B. Wilkerson Counsel Securities and Litigation, American Council of Life Insurers, Mary Jane Wilson-Bilik Sutherland Asbill & Brennan LLP, James Wrona Vice President and Associate General Counsel, Financial Industry Regulatory Authority (FINRA), Frank Zhang Vice President, Risk Management, Pacific Life Insurance Company, Los Angeles ALI CLE Program Attorney: Thomas M. Hennessey 6:00 p.m. Early Registration 6:30 p.m. Introduction to the Insurance Product Securities Regulatory Framework: A Workshop with Conference Co-Chairs 8:30 p.m. Adjournment for the Day Thursday, November 1, :30 a.m. Registration and Continental fast 8:45 a.m. Welcome and Announcements 9:00 a.m. Keynote Address 9:30 a.m. Annuity Disclosure Reform: Implications of the SEC s Financial Literacy Report, the Point-of-Sale Summary Prospectus and Abbreviated Annual Update, and the Annuity Buyer s Guide 10:45 a.m. Networking and Refreshment 11:00 a.m. State Insurance Regulatory Developments: Unclaimed Property, Contingent Deferred Annuities, Use of Separate Accounts with Guaranteed Products, and ORSA 12:15 p.m. Lunch 1:45 p.m. Indexed Products Post-Harkin: Recent Developments in Product Design and State and SEC Regulation 2:45 p.m. Networking and Refreshment

10 Online Phone CLE NEWS FAX Mail Registrar, ALI CLE, 4025 Chestnut Street, Philadelphia, PA Life Insurance Company Products Washington, DC, October 31 - November 2, 2012 $1,399 G G Please enter registration(s) CU001 G G Please provide my course materials as a (choose only one): О Printed course book О USB drive Video Webcast $1,099 (We are not offering webcast segments) G G The entire program. Tuition: $1,099 WAU001 Can t attend? You don t have to miss anything! Order the: G G DVD (video), including a complimentary MP3 CD-ROM and PDFs of the course materials $899 AU001V G G Audio MP3 CD-ROM (including PDFs of the course materials) $699 AU001 G G Printed course materials only $199 SU001 Tuition discounts ALI CLE offers tuition discounts for full-time government employees, recent law school graduates, and retired senior lawyers. If you are a member of any of these groups, please check the appropriate box below, and the corresponding discount will be applied. Discounts valid for on-site course, live webcast, and webcast segments only. Cannot be combined with other offers. G G I am a full-time employee of the federal, a state, or a local government or governmental agency: 30% tuition discount G G I am a recent law school graduate (<5 years): 30% tuition discount G G I am a retired senior lawyer (65 or older): 50% tuition discount $ Total j Check enclosed (payable to ALI CLE) Please charge to my credit card: j AMEX j DISCOVER j MasterCard j VISA Card no.: Card expiration date: / signature address (required for webcasts and online subscriptions) CU001 American Law Institute Continuing Legal Education 4025 Chestnut Street, Philadelphia, PA NONPROFIT ORG U.S. Postage PAID ALI-ABA

11 3:00 p.m. Retirement Market Developments: Guaranteed Lifetime Income in Defined Contribution Plans, New Required Participant and Service Provider Disclosures, and Fiduciary Investment Advice 4:00 p.m. Networking and Refreshment 4:15 p.m. De-Risking, Re-Risking and Hedging Variable Products: The Recent Evolution in Living Benefit Riders, Low Volatility Funds, Buy-Backs, Exchanges, and Related Regulatory Issues 5:30 p.m. Adjournment for the Day; Networking Reception for Faculty and Registrants Friday, November 2, :30 a.m. Registration and Continental fast 8:30 a.m. Compliance Workshop Part 1: Regulators Panel on Hot Topics in Compliance for Insurance Products and Recent SEC and FINRA Examination Focus 11:00 a.m. Executive Forum: Industry CEOs Share Their Insights and Predictions Regarding the Financial Services Landscape and Investment Product Evolution 12:00 noon Lunch 1:30 p.m. Legislative Developments: The Dodd-Frank Act, the JOBS Act, the FIO, and Implications of Its Report 2:45 p.m. Networking and Refreshment 3:00 p.m. Disclosure Review with SEC Branch Chiefs 3:45 p.m. Advertising, Suitability, Supervision, and Other Key Product Distribution Issues 4:30 p.m. Adjournment Total 60-minute hours of instruction: 14, including one full hour on ethics and professional responsibility issues, accepted as such by most, but not all, MCLE jurisdictions CPE credit hours in Business Law (live group and group-internet-based program) 9:30 a.m. Networking and Refreshment 9:45 a.m. Compliance Workshop Part 2: Compliance Professionals Panel Addressing Hot Topics and Industry Best Practices 10:45 a.m. Networking and Refreshment

Life Insurance Company Products

23rd Annual Advanced ALI-ABA Conference on Life Insurance Company Products Featuring Current Securities, Tax, ERISA, and State Regulatory and Compliance Issues Thursday-Friday, November 3-4, 2005 (Grand