Committee Reports
By: Mikhel Schecter (Paul Weiss)
Membership Committee
The primary responsibility of the Membership Committee is to consider applications for ACIC membership and to recommend those applicants meeting the membership criteria of the College to the Board of Trustees for a membership vote. In discharging this responsibility, the committee considers the totality of a candidate’s responses in his/her application, with particular emphasis given to (i) the portion of the applicant’s practice which is devoted to representing institutional investors, (ii) indicative transactions or other legal representations on behalf of institutional investors demonstrating the applicant’s representation of institutional investors, (iii) participation by the applicant in the activities of the College (e.g. Forums and educational meetings), and (iv) other factors, which the Board of Trustees has determined to be relevant to the College. The committee also reviews, and refers to the Board, applications for Emeritus status from long-time members who are retiring but want to remain plugged in to the College. Finally, the committee seeks to implement various initiatives to improve the onboarding experience of new members in the College and to encourage active engagement in the College among the membership generally.
Development Committee
The Development Committee is tasked with engaging the membership, assessing and addressing membership needs and interests, and planning some of the interactive events at the Spring Conferences and Annual Meetings.
Any questions can be directed to Tina Smith, Renée Dailey or Maureen Cronin. We look forward to seeing everyone at the Annual Meeting in October where some of the Development Committee’s creativity will be on display.
Communications Committee
The Communications Committee is responsible for communications among the College’s members and for communications between the College and the investment community at large. The Committee’s responsibility includes the publication of the College’s monthly newsletter, Private Notes. Among other items of interest to the College’s members, the monthly newsletter includes summaries of recent judicial decisions, information about job openings, and CLE announcements.
The current co-chairs of the Communications Committee are Bryan Cho (MetLife), Lisa Conmy (Foley & Lardner), and Luke Weedon (Baker Botts). The current co-editors of the College’s monthly newsletter are Danielle Maksimow (Norton Rose Fulbright Canada) and Josephine Vashi (AIG Investments). If any Fellow of the College is interested in joining the Communications Committee, please reach out to any of the co-chairs of the Committee – it’s always looking for new volunteers, and the Committee is a great way to get introduced to the College and its Fellows!
Website Committee
The Website Committee works to keep the content on our website updated and relevant. In this regard, we have been working hard to modernize the website, which we hope to unveil at the ACIC’s Fall Conference. We hope you are as excited about this reboot as we are! As the public “face” of the ACIC, we’re always looking for ways to enhance our users’ experience, both by keeping people informed and by making the information as accessible and seamless as possible. If you have any feedback on the website (whether positive or constructive criticism), please reach out to one of the committee co-chairs: Melody Cross (melody.cross@prudential.com), Michael Fierro (michael.fierro@prudential.com) or Tom O’Connor (tom.oconnor@akingump.com).
Education Committee
The Education Committee assists the Annual Meeting and Spring Forum co-chairs in planning the ACIC’s 2-day seminars (held 2 twice a year). The Education Committee also plans the 1-hour CLE programs (held 3-4 times a year). Do you have discussion topics that you would like to have the College consider for a CLE or the seminars? Suggestions for panelists? Join the Education Committee and turn your thoughts into action! Email one of the Education Committee co-chairs to discuss joining: James Roberts (JamesBRoberts@aig.com), Brenda Page (Brenda.page@thehartford.com), or Mary Jo Quinn (maryjo.quinn@allstate.com).
Transaction Process Management Committee
The Transaction Process Management Committee (TPMC) is responsible for the continued development of the Model Form Note Purchase Agreements. Over the last few years the TPMC has been responsible for (i) updating both the domestic and cross-border Model Form Note Purchase Agreements, (ii) updating the Model Form Make-Whole and Swap Indemnity Language for Swapped Notes as well as the Model Form Swap Indemnity Letter and (iii) providing for a maintenance of rating covenant (pertaining to private letter ratings) incorporating the necessary requirements of the TPMC in order for a private placement issuance to qualify for Filing Exempt with the SVO.
The current projects that the TPMC are undertaking include (a) addressing ongoing market comments to the Model Forms, (b) providing for a standard LIBOR sunset provision for floating rate Notes in the PP market (in conjunction with the other market groups also addressing this, including the Alternative Reference Rates Committee (ARRC) and the Loan Syndications and Trading Association)), and (c) considering “global” Model Form NPAs taking into account the growing global investor base beyond just US insurance companies, which would affect (among others) the economic sanctions and tax withholding provisions.
The current members of the TPMC include:
Matthew E. Gabrys Co-Chair – The Northwestern Mutual Life Insurance Company
Charles J. Kolin, Co-Chair – Greenberg Traurig, LLP
Brian A. Bates – Morrison & Foerster (UK) LLP
Joshua Deason – Willkie Farr & Gallagher LLP
Matthew J. DelRosso – New York Life Investment Management LLC
Daniel J. Favero – Mayer Brown LLP
Edward Holmes – Berger Legal LLC / Holmes Legal PLLC
Jaya McClure – Prudential Financial Inc.
Christopher E. Lawrence – Akin Gump Strauss Hauer & Feld LLP
Nicolette Lopez – MetLife
R. Brendan Olin – Unum Group
Noelle Sproul – Nuveen
Mark A. Sternberg – Schiff Hardin LLP
Clayton T. Hufft – AIG Investments
Anthony D. Yager – Chapman and Cutler LLP
