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LIMRA Member company employees who are engaged in the retirement industry.
Annuities and Life Insurance: BICE and 84-24 One of the most consequential changes in the DOL final fiduciary rule relates to annuity and insurance sales in retirement markets. Join us for an evaluation and comparison of the compliance alternatives DOL specifically provided for these sales in the new fiduciary environment: the BICE and amended PTE 84-24.
Partner, Sutherland, Asbill & Brennan LLP
With a deep understanding of the financial markets, Susan Krawczyk helps broker-dealers, investment advisers and sponsors to design, sell and deliver investment products and programs that perform for investors and that raise capital. The author of compliance manuals that became models for the industry, Susan has extensive experience in day-to-day regulatory, operational and compliance issues across the retail, institutional and retirement segments of the financial markets.
Susan advises clients regularly on distribution and wholesaling arrangements for both public and private offerings, including incentive, non-cash compensation and marketing support arrangements. Susan has particular experience with firms involved in the sale and distribution of investment products and programs, such as mutual funds, variable products, real estate investment trusts, business development companies and direct participation programs, in the registered investment adviser context (i.e., the “RIA channel”) and retirement plan markets. She works with clients in establishing marketing and selling arrangements for these programs that satisfy regulatory requirements. She also assists clients with obtaining regulatory approvals for illustrations of historical and hypothetical portfolio performance and track record results.
Susan has been closely involved with numerous enterprises in the establishment, restructuring and acquisition of broker-dealer firms, and has handled numerous new member application (NMA) and continuing membership application (CMA or 1017) filings with FINRA to obtain approval of these transactions. She has developed and conducted training programs for all levels in broker-dealer firms, including sales representatives, field supervisors, home office personnel and boards of directors.
Susan represents clients before the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). She also has served on FINRA’s Variable Products Committee.
Counsel, Sutherland, Asbill & Brennan LLP
Carol McClarnon has more than 20 years of experience providing legal guidance on ERISA and tax compliance to both employers and employee benefit service providers. A member of Sutherland’s Tax Practice Group, Carol typically advises financial services companies on ERISA and tax issues that impact their retirement services and insurance product operations. In addition, she routinely works with securities counsel to perform legal analyses on cutting-edge annuity and retirement plan products that are under development.
Carol represents plan sponsors and service providers before the Internal Revenue Service (IRS) and the Department of Labor, obtaining prohibited transaction exemptions, private letter rulings and/or voluntary compliance relief. She works with the full range of retirement plans for both public and private employers. Carol has been active in the American Bar Association, where she served as a vice chair of the Employee Benefits Law Committee of the Tort and Insurance Practice Section and as a member of the Employee Benefits Committee of the Section of Taxation.
Partner, Sutherland Asbill & Brennan LLP
Mark Smith helps financial service providers and Fortune 50 companies successfully design and administer retirement, employee benefit, insurance and executive compensation arrangements. He provides a pragmatic perspective on the tax, Employee Retirement Income Security Act (ERISA) and other legal considerations applicable to these arrangements.
Banks, broker-dealers, insurance companies, investment advisers and managers, mutual funds, retirement platforms, other product and service providers, and plan sponsors seek Mark’s counsel on a broad range of consulting, transactional and regulatory matters. Clients say he has “extensive experience" and provides solutions that are "concise, easy-to-understand" and "invaluable; he is very adept at assisting clients with navigating the regulatory waters."
Mark has also managed more than 50 tax and ERISA cases in federal court, including Nationwide Mutual Insurance Co. v. Darden (Supreme Court 1992) and, for the amici, in Albertson’s, Inc. v. Commissioner (9th Cir. 1993, 1994). Mark also advises on the taxation of corporate and nonqualified insurance products, including corporate- and bank-owned life insurance (COLI/BOLI) policies. From 1999 to 2007, Mark served as partner-in-charge of Sutherland's Washington, DC, office and firmwide Executive Partner.