Funds Not Caged by SEC Names Rule Amendments: Roaming Room Remains -
The SEC recently adopted amendments to its investment company “names” rule that apply to most SEC-registered funds, including underlying funds in which...more
1/11/2024
/ Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Insurance Industry ,
Investment Funds ,
Life Insurance ,
Proposed Rules ,
Putative Class Actions ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
Securities Traders ,
Whistleblowers
For broker-dealers distributing and selling variable annuities, examinations will test for compliance with Reg BI and FINRA Rule 2330 because both standards apply to variable annuity sales. Firms distributing and selling...more
More than 25 years have elapsed since the SEC adopted Exchange Act Rule 17a-4(f) governing electronic recordkeeping by broker-dealers. In an effort to update the rule to reflect “technology neutral” concepts, the SEC adopted...more
Between 2017 and 2022, 11 property and casualty insurers writing mainly homeowners insurance in Florida, where they were domiciled, were declared insolvent and placed in liquidation. This does not include any potential...more
In 2021, as a result of increases in private equity firms’ investments in insurers, particularly life and annuity insurers, and growing interest among state insurance regulators about the role of private equity firms in the...more
EXPECTFOCUS® is a quarterly review of developments in the insurance and financial services industry, provided on a complimentary basis to clients and friends of Carlton Fields Jorden Burt, P.A.
...more
5/1/2018
/ Best Interest Contract Exemptions ,
Best Interest Standard ,
CAFA ,
Class Action ,
COI Rates ,
Corporate Governance ,
Cryptocurrency ,
Cybersecurity ,
Data Breach ,
Disclosure Requirements ,
Elder Abuse ,
Failure To Pay ,
Fiduciary Rule ,
Life Insurance ,
NAIC ,
Securities and Exchange Commission (SEC) ,
Statute of Limitations ,
TCPA
Following the financial crisis, the NAIC undertook a solvency modernization initiative (SMI) to update insurance regulators on insurance companies’ regulatory frameworks. One part of the SMI, meant to keep regulators informed...more
- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial
- Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation
- On The Horizon: Global...more
10/31/2016
/ Administrative Proceedings ,
Annuities ,
Business Continuity Plans ,
CFTC ,
Class Action ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Data Protection ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
EU ,
European Economic Area (EEA) ,
Fiduciary Duty ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Markets ,
FSB ,
Gartenberg Factors ,
Healthcare ,
Industry Examinations ,
Insurance Industry ,
Investment Companies ,
Life Insurance ,
Long Term Care Facilities ,
Long-Term Care ,
Meals-Gifts-and Entertainment Rules ,
Mutual Funds ,
NAIC ,
NYDFS ,
Passporting ,
Regulatory Oversight ,
Retirement Plan ,
RICO ,
Risk Assessment ,
Securities ,
Securities and Exchange Commission (SEC) ,
Solvency II ,
UK ,
UK Brexit ,
Unicorns
- Fed Takes First Steps Toward Setting Capital Requirements for Some Insurers
- New Wave of COI Rate Increase Lawsuits Hits the Industry
- STOLI Policies Cancelled, Insurers Retain Premium
-...more
8/29/2016
/ Administrative Proceedings ,
Capital Requirements ,
Cybersecurity ,
Data Breach ,
Death Master Files ,
Domain Names ,
Electronic Data Transmissions ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Florida ,
Insurance Industry ,
Life Insurance ,
Mutual Funds ,
NAIC ,
National Technical Information Service (NTIS) ,
Pensions ,
Popular ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Spokeo v Robins ,
STOLI ,
Unclaimed Property
On June 3, the Federal Reserve Board (the "Fed") released an advance notice of proposed rulemaking (ANPR) and began soliciting comments for the conceptual framework for capital standards that it will use when overseeing the...more
In speaking to a cybersecurity conference in 2012, then FBI Director Robert Mueller told attendees that there are only two types of companies: those that have been hacked and those that will be. Sadly, with each passing day,...more
The (re)insurance industry is changing and recent consolidations are signaling a momentous shift for customers too.
Every once in a while the staid insurance and reinsurance industries go through a momentous change...more
Spurred by the prescient reporting found in this space (and, just maybe, by the Anthem data breach, which occurred a week later), insurance regulators have recently engaged in a flurry of regulatory activity relating to cyber...more
Cyber-attacks are becoming increasingly common and destructive, with the recent incidents involving Sony and Anthem Blue Cross Blue Shield serving as cautionary tales. As a result, state insurance regulators are focusing on...more
In July, the International Association of Insurance Supervisors (IAIS), a membership organization that represents insurance regulators and supervisors in more than 100 countries, released for public consultation a set of...more
MetLife Consent Decree -
On March 26, 2014, the New York Department of Financial Services (the "DFS") entered into a consent decree ("Consent Decree") with MetLife, Inc. and its subsidiaries, American Life Insurance...more