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. Please reach out to the Co-Chairs, Catherine Hood (Bracewell LLP) and Kirk M. Orr (AIG Investments) with any questions!
The Education Committee supports the Co-Chairs of the Spring and Fall Forum and is excited to see the final product each year in Chicago and New York! This year the Education Committee will be hosting 3 one-hour CLE programs by webinar. The dates and topics will be posted on the website and members will receive email notice of the events! If you are interested in hearing about a specific topic, please send your idea to one of the Co-Chairs (Brenda J. Page (The Hartford Financial Services Group, Inc.), Mary Jo Quinn (Allstate Investments) and James B. Roberts (AIG Investments) of the Education Committee.
Website & Social Media Committee
Over the last year, the Website & Social Media Committee has been hard at work updating the ACIC’s website, and we’re proud to say we were able to roll it out just over a month ago! We hope everyone has enjoyed all the work that went into it. If anyone has any suggestions for the website, or would like to join the Website Committee, please do not hesitate to reach out to a committee member or to one of the committee co-chairs, Melody Cross (Prudential), Michael Fierro (Prudential) and Tom O’Connor (Akin Gump Strauss Hauer & Feld LLP).
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 April Conferences and October Meetings.
Any questions can be directed to Maureen Cronin ( New York Life Investment Management LLC), Renée Dailey (Akin Gump) or Tina Simth (Thrivent) . We look forward to seeing everyone at the April Conference where some of the Development Committee’s creativity will be on display.
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 is responsible for preparing and publishing the College’s monthly newsletter, Private Notes. Among other items of interest to the College’s members, the monthly Private Notes includes summaries of recent judicial decisions, information about job openings, and CLE announcements.
The current co-chairs of the Communications Committee are Lisa Conmy (Foley & Lardner) and Danielle Maksimow (Norton Rose Fulbright Canada). The current co-editors of the College’s monthly newsletter are Charles C. Calloway Jr. (Chapman & Cutler LLP) 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. We are always looking for new volunteers, and the Committee is a great way to get introduced and provide pertinent information to the College and its Fellows!
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)), (c) institute procedures in an effort to mitigate fraud in the funding process and (d) 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:
Bryan Cho, Co-Chair (MetLife)
Charles J. Kolin, Co-Chair (Greenberg Traurig, LLP)
Daniel J. Favero, Co-Chair (Mayer Brown LLP)
Brian A. Bates (Morrison & Foerster (UK) LLP)
Andrew Bobenski (John Hancock Life Insurance Company)
Joshua Deason (Willkie Farr & Gallagher LLP)
Matthew J. DelRosso (New York Life Investment Management LLC)
Matthew E. Gabrys (The Northwestern Mutual Life Insurance Company)
Clayton T. Hufft (AIG Investments)
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)
Brendan Olin (Unum Group)
Noelle Sproul (Nuveen)
Mark A. Sternberg (Schiff Hardin LLP)
Anthony D. Yager (Chapman and Cutler LLP)
Contributed by Mikhel Schecter of Paul, Weiss, Rifkind, Wharton & Garrison LLP