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Remarks of Dalia Blass at the ALI CLE 2019 Conference on Life Insurance Company Products

On November 7, 2019, Dalia Blass, Director of the SEC’s Division of Investment Management, delivered the keynote address at the annual ALI CLE Conference on Life Insurance Company Products. Her remarks primarily focused on the staff’s rulemaking activity over the prior year. Ms. Blass discussed comments received on the SEC’s proposal to permit issuers of variable contracts to use a summary prospectus. She stated that significant comments had been received on the treatment of discontinued contracts, the use of structured data using inline XBRL tagging and the proposed use of standardized terminology in disclosure documents. She stated that a final rule was expected by April 2020. Ms. Blass also discussed the SEC’s recent proposal to modernize the investment adviser advertising and solicitation rules, noting that the proposed rule “recognizes the evolution of the market place and how investors look for and receive information” since the adoption of the original rule. Ms. Blass pointed to the recent adoption of the ETF rule and the expedited review process for certain exemptive applications as initiatives that the staff hoped would create more investment options for investors by reducing costs for sponsors. Ms. Blass concluded her remarks by noting that the staff’s recent regulatory initiatives have been part of the staff’s ongoing focus on protecting investors, improving the investor experience and modernizing the regulatory framework.

A transcript of Ms. Blass’s remarks is available here.

© 2020 Vedder Price


About this Author

John M. Sanders Investment Lawyer Vedder Price

John M. Sanders is an Associate at Vedder Price and a member of the firm's Investment Services group.

Mr. Sanders focuses on advising clients on mutual funds, private placements, sale transactions and regulatory issues.

While in law school, Mr. Sanders was a judicial extern for the Honorable David J. Novak, U.S. District Court for the Eastern District of Virginia and a law clerk with the Baltimore City State’s Attorney’s Office. He also served as Lead Articles Editor for the William & Mary Law Review.

(202) 312 3332
Nathaniel Segal, Investment Attorney, Vedder Price Law Firm

Nathaniel Segal is an Associate at Vedder Price and a member of the Investment Services group. He focuses his practice on investment companies and investment advisers in connection with the organization and operation of investment products and services, including traditional mutual funds, closed-end investment companies (including interval funds and listed closed-end funds), variable insurance products and registered hedge funds, as well as mutual funds utilizing complex hedging and absolute return strategies. Mr. Segal has experience in conducting transactional due diligence and drafting regulatory disclosures in connection with fund reorganizations and management acquisitions. He counsels clients on a wide variety of regulatory matters, including interpretive and no-action letter requests and SEC exemptive orders, as well as governance matters and internal compliance procedures in response to SEC examinations and inquiries.

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Jacob Tiedt, Vedder Price, investment services attorney

Jacob C. Tiedt is a Shareholder at Vedder Price and a member of the Investment Services group.

Mr. Tiedt’s practice includes the representation of registered mutual funds, closed-end funds and exchange-traded funds; private funds; investment advisers; and other financial institutions on a broad range of regulatory, governance and compliance matters. Mr. Tiedt regularly counsels clients on matters relating to SEC registration, disclosure and compliance; shareholder solicitation; NYSE, Nasdaq and FINRA regulation; corporate governance; and board administration. Mr....

Legal, Business, John Marten, Investment Attorney, Vedder Price Law FIrm

John S. Marten, a Shareholder in the Chicago office of Vedder Price, has substantial experience representing clients in the investment management industry.

As a member of the firm’s Investment Services group, Mr. Marten counsels clients on a wide variety of matters involving the application of the federal securities laws to investment companies, investment advisers and broker-dealers. He has significant experience counseling investment company clients with respect to new products and was recently involved in the creation of two mutual funds...

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