REGISTER BY OCTOBER 1 AND

S AV E $ 2 0 0 * OR

A D D I T I O N A L R E G I S T R A N TS

American Law Institute CONTINUING LEGAL EDUCATION

SAVE 50%* SEE BACK FOR D E TA I L S

34 TH ANNUAL ADVANCED COURSE

Life Insurance Company Products 2016 Featuring Current SEC, FINRA, Insurance, Tax, and ERISA Regulatory and Compliance Issues THURSDAY-FRIDAY | NOVEMBER 3-4, 2016 WASHINGTON, D.C. | CAPITAL HILTON HOTEL Plus Optional Evening Workshop Wednesday, November 2

REGISTER ONLINE w w w. a l i - c l e. o rg / C Y 0 0 1 1-800-CLE-NEWS [253-6397]

14.0 C L E C R E D I T H O U R S , I N C L U D I N G 1.0 H O U R O F E T H I C S ( P E R V A S I V E ) (includes optional evening workshop)

16.5 C P E C R E D I T H O U R S I N BUSINESS LAW

Planning Chairs (also on faculty) Stephen E. Roth Sutherland Asbill & Brennan LLP

Richard T. Choi Carlton Fields Jorden Burt P.A.

Keynote Speaker David W. Grim Director, Division of Investment Management, SEC

Faculty Ann Young Black Carlton Fields Jorden Burt P.A. Diane C. Blizzard Associate Director, Regulatory Policy and Investment Adviser Regulation, Division of Investment Management, SEC Raymond Caucci Senior Vice President, Product Management, Underwriting, and Advanced Sales, The Penn Mutual Life Insurance Company

Gerry Gunderson Senior Vice President of Regulatory Affairs and General Counsel, National Planning Holdings, Inc. Peter L. Hartt Director, Division of Insurance, New Jersey Department of Banking and Insurance Timothy D. Hauser Deputy Assistant Secretary for Program Operations, U.S. Department of Labor

Gary O. Cohen Carlton Fields Jorden Burt P.A.

Jessica B. Hopper Senior Vice President, Deputy Chief of Regional Enforcement, FINRA

Pramit K. Das Assistant Director of Advertising Regulation, FINRA

Jodi Hyde Vice President and Deputy General Counsel, Fidelity & Guaranty Life

Peter Davidson Assistant General Counsel, Invesco Ltd.

J. Mark Iwry Senior Advisor to the Secretary of the Treasury and Deputy Assistant Secretary for Retirement and Health Policy, U.S. Department of the Treasury

Ruth S. Epstein Stradley Ronon Stevens & Young LLP Manda Ghaferi Vice President and Deputy General Counsel, AIG Life & Retirement Matthew Giordano Chief Accountant, Division of Investment Management, SEC Mark E. Griffin Davis & Harman LLP

Gary Jenkins Deputy General Counsel, Voya Financial David Joire Senior Special Counsel, Division of Investment Management, SEC ‡

Gregory J. Lyons Debevoise & Plimpton LLP Ann M. Kappler Senior Vice President and Chief Legal Officer, Corporate Services , Prudential Financial Maurya C. Keating Vice President and Associate General Counsel, AXA Equitable Life Insurance Company Michelle M. Kelley Senior Vice President & Associate Counsel, LPL Financial Anthony S. Kelly Co-Chief, Asset Management Unit, Division of Enforcement, SEC Mavis Kelly Assistant Director, Office of Compliance Inspections and Examinations, SEC Dodie C. Kent Sutherland Asbill & Brennan LLP William J. Kotapish Assistant Director, Division of Investment Management, SEC Daniele Marchesani Branch Chief, Division of Investment Management, SEC Sheryl J. Moore President and CEO, Moore Market Intelligence ‡

P R O G R A M For full program details, please visit w w w. a l i - c l e. o rg / C Y 0 0 1

Faculty (cont'd.)

ALL TIMES EASTERN

Sean M. Murphy Milbank, Tweed, Hadley & McCloy LLP

Novemb er 2, 2016

David W. Ogden Wilmer Cutler Pickering Hale and Dorr LLP Timothy C. Pfeifer President, Pfeifer Advisory, LLC Karen Shaff Executive Vice President, General Counsel and Secretary, Principal Financial Group Daniel M. Sibears Executive Vice President of Regulatory Operations – Shared Services, FINRA Wayne Skuenkel Senior Vice President and Chief Actuary, Protective Life Insurance Company W. Mark Smith Sutherland Asbill & Brennan LLP Amir C. Tayrani Gibson, Dunn & Crutcher LLP Stephen G. Topetzes K&L Gates LLP Carl B. Wilkerson Vice President and Chief Counsel, Securities and Litigation, American Council of Life Insurers James S. Wrona Vice President and Associate General Counsel, FINRA ‡ ALI CLE Program Attorney: Jaimee Taibi ([email protected]) ‡ Invited

6:00 PM – 8:00 PM

Workshop on Current Regulatory Issues (Optional)

Novemb er 3, 2016 7:30 AM

Registration and Continental Breakfast

8:45 AM 

Welcome and Course Overview

9:00 AM

Recent Life and Annuity Product Design and Sales Trends and What Lies Ahead

A panoramic overview of the latest designs and trends in fixed, variable, indexed, structured, and other annuity and life insurance products, including the key economic and regulatory factors driving product design and development

9:45 AM

Hot Button Disclosure, Regulatory, and Accounting Issues for SEC Registered Products

A comprehensive review of the latest variable and other registered product trends, including responses to the DOL fiduciary rule and exemptions, and an open discussion with senior SEC staff regarding recent disclosure and regulatory issues, exemptive and substitution relief, accounting guidance, and no-action relief

11:00 AM

Networking and Refreshment Break

11:30 AM

Current SEC and FINRA Enforcement Priorities and Actions Affecting Insurance Products and Mutual Funds

An examination of current SEC and FINRA enforcement priorities and actions against insurers, investment companies, investment advisers and sub-advisers, and broker-dealers, including those related to exchanges and sales of L-share variable annuities

12:30 PM

Lunch Break (on your own)

2:00 PM

The DOL Fiduciary Rule: Implementation and Compliance

An in-depth dialogue with one of the chief architects of the DOL fiduciary rule on key implementation and compliance issues, including: reasonable compensation; required fee and other disclosures; the Impartial Conduct Standards; the scope of PTE 84-24; grandfathered contracts; the best interest contract exemption (BICE); agreements between life insurance companies and selling firms; and more

3:15 PM

Networking and Refreshment Break

3:45 PM

Innovative Fixed Rate and Indexed Annuity and Life Insurance Product Designs and Regulatory Developments

An in-depth look at the latest fixed and indexed product design and regulatory developments, including design and distribution changes in response to the DOL fiduciary rule; the expanding use of living benefits; the use of proprietary indices; IUL illustrations and AG 49; and other developments

5:00 PM

Recent Treasury and IRS Developments Affecting Insurance Products

An up-to-date discussion of key Treasury Department initiatives affecting the offering and availability of annuities and other lifetime income solutions in retirement plans; analysis of recent Treasury and IRS insurance product rulings and guidance; and recent annuity initiatives

5:45 PM

Adjournment for the Day; Networking Reception for Faculty and Registrants

“Best conference in quite some time - note it’s usually good, but this year was a really great balance of topics.”

“Many thanks to Steve and Richard for all their hard work organizing a stellar conference.”

REGISTER ONLINE w w w. a l i - c l e. o rg / C Y 0 0 1 1-800-CLE-NEWS [253-6397]

Novemb er 4, 201 6 7:30 AM

Networking Session and Continental Breakfast

8:45 AM

Keynote Address – David W. Grim, Director, SEC Division of Investment Management

9:15 AM

Evolving Capital Standards for Life Insurers and Their Effect on the Industry and Its Products

A review of current and evolving federal, state, and global capital standards, and a discussion of their impact on companies issuing annuities and life insurance products

10:15 AM

Networking and Refreshment Break

10:30 AM

Recent Significant Litigation Challenging Federal Regulation of the Insurance and Financial Services Industries

An in-depth discussion of recent litigation challenging controversial regulations and agency decisions, including the litigation related to the DOL fiduciary rule and BICE, as well as MetLife’s designation as a systematically important financial institution (SIFI)

11:30 AM

Recent Regulatory and Litigation Developments Affecting Underlying Mutual Funds

An analysis of key developments affecting underlying mutual funds, including the SEC’s proposed modernization of investment company reporting; proposed SEC regulations for mutual fund liquidity risk management and derivatives investments; private litigation concerning fund adviser and sub-advisory fees and revenue sharing; responses and issues related to money market fund reform; and more

3:15 PM Networking and Refreshment Break 3:30 PM

Key Recent FINRA Developments Affecting the Marketing and Distribution of Insurance Products

A review of recent FINRA pronouncements on advertising and other communications; sales practices involving complex products, IRA rollovers, fee disclosure, and L-Share annuities; FINRA’s focus on sales to seniors and other vulnerable investors; the impact of the DOL fiduciary rules on FINRA regulation and examination of selling firms; regulation of robo-advisers; and more

4:30 PM

Adjournment

Current SEC Examination Priorities

An in-depth look at current SEC examination priorities for insurers, mutual funds, broker-dealers, and advisers, including: variable annuities; the multi-year ReTIRE examination initiative; cybersecurity; regulation systems compliance and integrity (SCI); liquidity controls; and 12b-1 fees

12:30 PM

2:00 PM

Lunch Break (on your own)

14.0 C L E C R E D I T H O U R S , I N C L U D I N G 1.0 H O U R O F E T H I C S ( P E R V A S I V E ) (includes optional evening workshop)

16.5 C P E C R E D I T H O U R S I N BUSINESS LAW

“As a newcomer to the conference, I felt that the material and subjects were well-developed and presented in an approachable manner. I was able to learn a lot from my time attending the conference.”

ADDITIONAL INFORMATION REGISTER TWO OR MORE AND SAVE!

MANDATORY CLE AND CPE CREDIT

Register one person to attend this course in-person at full price and get all subsequent in-person registrations for this course from your organization at 50% off ! Call 1-800-CLE NEWS (253- 6397). Discounts may not be combined.

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 14.0 credits, including 1.0 ethics credit (pervasive), in 60-minute MCLE jurisdictions; and for 16.8 credits, including 1.2 ethics credits (pervasive), in 50-minute MCLE jurisdictions (includes optional evening workshop). In NY, the in-person course is appropriate for both newly admitted and experienced attorneys. For specific information on CLE, CPE, or other professional accreditation in your state, please e-mail the MCLE Team at [email protected], go to http://www.ali-cle.org/mcle, or call 1-800-CLE-NEWS.

HOTEL ACCOMMODATIONS A limited block of rooms has been reserved at the Capital Hilton Hotel. Room rate: $314 per night, single or double occupancy. These rooms will be held as a block, unless exhausted, until September 23, 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 program to qualify for rooms in the block. Room reservations may be made by calling the Capital Hilton Hotel, 1001 16th Street, N.W., Washington, D.C. 20036; phone 1-800-HILTONS (1-800-445-8667). Confirmations will be sent by the hotel. Please read the cancellation policy carefully. Complimentary WiFi is available in the meeting room. STUDY MATERIALS Registrants have the option of receiving their study material on a USB drive or as a printed course book. Print materials can be voluminous, so the USB option is recommended. Be sure to indicate your preference when you register. Go Green! Select the USB option! Go to www.ali-cle.org/CY001 for more info about: Registration/cancellation/requirements for persons with disabilities/scholarships NETWORKING OPPORTUNITIES Networking is an important reason to attend this and every other ALI CLE course. Registrants for last year’s presentation of this course came from 29 states!

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 through its website: www.learningmarket.org. 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 (live group program)(includes optional evening workshop). 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.

"I could not have asked for a better way to expand my law practice and learn more about the industry and its best practices. This conference strikes a wonderful balance for generalists and specialists."

LIFE INSURANCE COMPANY PRODUCTS 2016 Learn from a pre-eminent faculty, leverage networking opportunities, and get your most pressing questions answered at this one-of-a-kind event! With a faculty drawn from industry, government, and private practice, this nationally recognized annual conference examines the most significant developments in the design, distribution, and regulation of life insurance company products. This year’s content-rich program features: •

a keynote address by David W. Grim, Director of the SEC’s Division of Investment Management, and a discussion with J. Mark Iwry, Deputy Assistant Secretary of the Treasury for Retirement and Health Policy

•

an in-depth dialogue with one of the chief architects of the DOL fiduciary rule, Timothy D. Hauser, Deputy Assistant Secretary for Program Operations of the Employee Benefits Security Administration, Department of Labor

•

the latest designs and trends in fixed, variable, indexed, structured, and other annuity and life insurance products, including the key economic and regulatory factors – such as principles based reserving and the DOL fiduciary rule – that will be driving changes in product design and distribution

•

insights from senior SEC staff on key regulatory, disclosure, and accounting issues and developments affecting variable and other registered products

•

recent litigation challenging the federal regulation of the insurance and financial services industries, including DOL fiduciary rule challenges, FSOC’s designation of MetLife as a SIFI, and challenges to sub-advisory fee structures

•

latest FINRA developments related to advertising and other public communications, sales practice issues including complex products, IRA rollovers, fee disclosure, and sales to seniors, including the FINRA Securities Helpline for Seniors.

•

current SEC and FINRA examination priorities and enforcement actions affecting mutual funds and life insurance company products, including FINRA’s recent action against MetLife Securities and its focus on sales of L-share variable annuities, and the SEC’s multi-year ReTIRE examination initiative and focus on distribution fees, cybersecurity, conflicts of interest, and variable annuities

•

key developments affecting underlying mutual funds, including the SEC’s proposed modernization of investment company reporting, proposals related to liquidity risk management and derivatives, and money market reform responses

•

current and evolving NAIC, federal, and global capital standards for life insurers and their impact on insurers issuing annuities and life insurance products

Register today and advance your expertise on emerging issues in annuities, life insurance, and related investment products!

REGISTER ONLINE w w w. a l i - c l e. o rg / C Y 0 0 1 1-800-CLE-NEWS [253-6397]

14.0 C L E C R E D I T H O U R S , I N C L U D I N G 1.0 H O U R O F E T H I C S ( P E R V A S I V E ) (includes optional evening workshop)

16.5 C P E C R E D I T H O U R S I N BUSINESS LAW

AT CHECKOUT

CY 001 EB 2

$1,399

1-800-CLE-NEWS [253-6397]

$1,599

ONLY

REGISTER BEFORE 10/1/16

FOR FIRST REGISTRANT

$1,599

FOR EACH ADDITIONAL REGISTRANT,

$799

GROUP RATE:

EARLY BIRD RATE:

ENTER CODE

IN-PERSON

STANDARD RATE:

NONPROFIT ORG U.S. Postage PAID ALI CLE

*Discounts valid on new registrations for in-person course only; may not be combined with other discounts. ALI CLE makes a limited number of full and partial scholarships available; for more information go to ali-cle. org/CY001 and click on “Scholarships.”

American Law Institute Continuing Legal Education 4025 Chestnut Street, Philadelphia, PA 19104 -3099

w w w. a l i - c l e. o rg / C Y 0 0 1

F O R M O R E I N F O R M AT I O N OR TO R E G I S T E R O N L I N E

"Truly the premier conference in the insurance company space. I look forward to attending EVERY year."

The pre-eminent annual event for legal, compliance, and other professionals in the life insurance company product industry.

NOVEMBER 3-4, 2016 | WASHINGTON, D.C. CAPITAL HILTON HOTEL Plus Optional Evening Workshop, November 2

Life Insurance Company Products 2016