Read Ethan Corey’s Article in the May edition of The Investment Lawyer

Ethan CoreyLegal Insights, Practus NewsLeave a Comment

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The Investment Lawyer:  Covering Legal and Regulatory Issues of Asset Management Prospectus Delivery Obligations, Regulation Best Interest and the Buried Facts Doctrine: Has the SEC Changed the Time When Prospectuses Must Be Delivered? The SEC’s Regulation Best Interest will require a broker-dealer to provide a retail customer with information about the material fees and cost the customer will incur and … Read More

The New Normal

Robert HebronLegal InsightsLeave a Comment

Lawyer Round Table

Our “New Normal” has become a rapidly moving target during the COVID-19 pandemic   Since I started writing this blog series in late March, the subject of how the COVID-19 pandemic will affect the U.S. life insurance industry has become somewhat of rapidly moving target. As I sit here today, it has become very clear that this crisis will not be … Read More

Risk Management and Marketing during COVID-19

Robert HebronLegal InsightsLeave a Comment

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Finding the Perfect Intersection of Risk Management and Marketing in a Covid-19 World COVID-19 has legitimately had a major impact on life insurance underwriting and risk management processes.  It has already become a major cause of life insurance deaths; in some hotspots eclipsing cancer and heart disease as a cause of death.  Creating a three-headed problem for life insurers Avoiding … Read More

SEC Proposes to Modernize Framework for Fund Valuation Practices

Ethan CoreyLegal InsightsLeave a Comment

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“The devil is in the details” – quote generally attributed to Ludwig Mies van der Rohe   On April 21, 2020, the Securities and Exchange Commission (SEC) issued a release proposing  substantial changes to investment company valuation practices (Proposing Release).1   The SEC would adopt new Rule 2a-5 under the Investment Company Act of 1940 (1940 Act) , which would establish requirements … Read More

Life Insurance Post COVID-19

Robert HebronLegal InsightsLeave a Comment

Life Insurance Disaster Relief Navigating Legal Landscape

Legislative possibilities for the life insurance industry in a post COVID-19 world In prior blog posts, I pointed out that the COVID 19 pandemic has profoundly impacted the life insurance industry in two ways:  Increased consumer interest in the product leading to increased demand; and  Industry concern over heightened mortality risk due to the disease’s actual and potential death toll.  … Read More

Applying Client Standards in COVID-19 Environment

Robert HebronLegal InsightsLeave a Comment

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Applying Suitability and Best Interests of the Client Standards in a COVID-19 Environment Life insurance landscape was changing pre-COVID 19 Until recently, in the world of life insurers, these issues have only come up in the case of the sale of a registered security product. Such as a variable deferred annuity or a variable universal life product.  With the advent … Read More

COVID-19 Long Term Challenges on Life Insurers

Robert HebronLegal InsightsLeave a Comment

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Consumer demand is rising but requiring a new method of consumer interaction While consumer demand is ratcheting up, social distancing and the movement of commerce to a consumer centric technology-based interaction is as well due to COVID-19.  At the same time, the industry’s mortality assumptions and underwriting rules will be challenged in ways that point towards making the product more … Read More

COVID-19 Implications on the Life Insurance Industry

Robert HebronLegal InsightsLeave a Comment

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THE CHALLENGES & OPPORTUNITIES THE U.S. INDUSTRY FACES Like many businesses, the implications on the life insurance industry from COVID-19 is causing many challenges, but also opportunity. The COVID-19 (coronavirus) pandemic has completely changed the global economy and the systems we’ve come to rely on for so long. And though we are in dire times, the U.S. life insurance industry … Read More

OCIE Publishes Reg BI, Form CRS Risk Alerts

Ethan CoreyLegal InsightsLeave a Comment

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SEC Office of Compliance Inspections and Examinations Publishes Risk Alerts Providing Advance Information Regarding Inspections for Compliance with Regulation Best Interest and Form CRS   On April 7, 2020, the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) issued two risk alerts:  Examinations that Focus on Compliance with Regulation Best Interest and Examinations that … Read More

SEC Explores Improving Rule 35d-1 for Socially Responsible Investments

Rick PasquierLegal Insights

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On March 2, 2020, the SEC issued a request for comment on amending its Rule 35d-1, the so-called “Names Rule” under the Investment Company Act of 1940.1   Among other questions for which the Commission asked for comments were several related to the category of funds promoted as focused on “sustainable” and “socially responsible” investment strategies.  The SEC asked whether it … Read More