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SEC issues release proposing amendments to rules governing custody of client assets by investment advisers

Sutherland Asbill & Brennan LLP
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USA
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May 27 2009

On May 14, 2009, the U.S. Securities and Exchange Commission (SEC) held an open meeting (the Open Meeting) to determine whether to propose amendments to Rule 206(4)-2 (the Custody Rule) and related forms and rules (the Proposed Amendments) under the Investment Advisers Act of 1940 (the Advisers Act

NAIC Life Insurance and Annuities (A) Committee approves revisions to Standard Valuation Law to enable principles-based reserving

Sutherland Asbill & Brennan LLP
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USA
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September 10 2009

In a major step forward in the move toward adopting principles-based reserving, the Life Insurance and Annuities (A) Committee ((A) Committee) of the National Association of Insurance Commissioners (NAIC) voted on September 9, 2009, to approve revisions to the Standard Valuation Law (Model 820) (SVL), which had previously been approved by the NAIC Life and Health Actuarial Task Force to enable a principles-based approach to reserve valuation for insurance companies

Federal insurance regulation: an updated scorecard

Sutherland Asbill & Brennan LLP
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USA
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March 12 2009

Over the last several weeks, a variety of positions have been expressed on the optional federal charter for life insurance

Senate Banking Committee hears testimony on insurance regulation

Sutherland Asbill & Brennan LLP
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USA
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March 18 2009

On March 17, 2009, the Senate Banking Committee received testimony on "Perspectives on Modernizing Insurance Regulation."

House holds hearing on insurance holding company supervision

Sutherland Asbill & Brennan LLP
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USA
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March 19 2010

On Thursday, March 18, 2010, the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, chaired by Representative Paul Kanjorski (D-PA), held a hearing to examine the interaction between federal and state regulators regarding oversight of holding companies containing entities conducting insurance activities

NAIC proposes expansive new governance, risk management and reporting duties on insurance holding company systems; a new liability profile emerges for directors and senior management

Sutherland Asbill & Brennan LLP
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USA
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July 9 2010

In an ambitious move to craft legislation that will override state case law on corporate governance, potentially challenge the federal securities laws as the primary source of the requirement to disclose corporate risk factors, and extend the extra-territorial reach of state insurance regulators to examine and control insurance holding companies and insurers beyond their state borders, a key committee of the National Association of Insurance Commissioners ("NAIC") has exposed amendments (the "Amendments") to the Insurance Holding Company System Model Act (440) (the "Act") and changes to the supporting regulations for a 30-day comment period ending July 21, 2010

FINRA delays implementation of new suitability rules until July 2012

Sutherland Asbill & Brennan LLP
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USA
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April 11 2011

On April 7, 2011, FINRA filed a proposed rule change to delay implementation of its new suitability rule (Rule 2090, replacing NASD Rule 2310) and new "Know Your Customer" rule (Rule 2111, replacing NYSE Rule 405

Impact of the Jumpstart Our Business Startups Act (the JOBS Act) on broker-dealers

Sutherland Asbill & Brennan LLP
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USA
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April 13 2012

On April 5, 2012, President Obama signed the Jumpstart Our Business Startups Act (the JOBS Act or the Act), which is intended to stimulate economic growth by helping smaller and emerging growth companies access the U.S. capital markets

NAIC report: 2012 Fall National Meeting

Sutherland Asbill & Brennan LLP
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USA
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December 6 2012

The Fall National Meeting of the National Association of Insurance Commissioners (NAIC) was held November 29 through December 2, 2012, at National Harbor, Maryland, a convention site that almost technically qualifies as inside-the-Beltway

NAIC report: 2013 spring national meeting

Sutherland Asbill & Brennan LLP
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USA
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April 22 2013

The following are some highlights from the Spring National Meeting of the National Association of Insurance Commissioners (NAIC), held in Houston

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