Fred Bellamy, a partner in Sutherland's Financial Services Practice Group, focuses his practice on the organization and federal securities regulation of life insurance, annuity products and mutual funds. He has extensive experience in the application of federal securities laws to all types of insurance products including variable annuities, variable life insurance, universal life, excess interest products, modified guaranteed annuities and other market-value-adjusted products, indexed products, and private placements of securities insurance products. His experience covers all types of insurance company separate accounts, series mutual funds with a number of different portfolios, and all facets of investment company regulation-from the design and creation of such companies through their dissolution and deregistration.
In addition to the creation of new funds and products, Fred regularly advises clients with respect to ongoing operations, such as periodic reporting and filing, annual reviews and approvals, exemptive applications, no-action letters, advertising, U.S. Securities and Exchange Commission (SEC) examinations and compliance manuals. He also is experienced in the investment company transactional area, particularly mergers and acquisitions of mutual funds and separate accounts, reorganizations, and addition or deletion of portfolios.
Before joining the firm, Fred served as a law clerk to the Honorable H. Emery Widener Jr. of the U.S. Court of Appeals for the Fourth Circuit.
Professional and Community Involvement
· Member, American Bar Association
· Member, Federal Bar Association
· Member, Federal Affairs and State Affairs Committees, Insured Retirement Institute
· Member, District of Columbia Bar
Publications and Speaking Engagements
· Co-author, "Securities or Not: Uncertainties Remain For Fixed Insurance Products After Dodd-Frank," Securities Regulation & Law Report (October 18, 2010)
· Author, "Variable Insurance Products," Chapter, The Investment Company Regulation Deskbook (1998)
· Speaker, NAVA 2007 Compliance and Regulatory Affairs Conference (June 24-26, 2007)
· Panelist, "Insurance Company Relationships with Underlying Funds," NAVA 2006 Compliance and Regulatory Affairs Conference (June 25-27, 2006)
· Speaker, "Living in the New Regulatory World," NAVA 2005 Compliance and Regulatory Affairs Conference (June 26-28, 2005)
Industries
Financial Services
Retirement Products and Services
News
Sigh of Relief for EIA Sellers
July 12, 2010
Legal Alerts
Legal Alert: Summary Judgment Rulings in ERISA Retained Asset Account Cases
February 23, 2012
Legal Alert: Illustration Disclosures Lead to Dismissal of Universal Life Insurance Class Action
November 29, 2011
Legal Alert: ERISA Participant Disclosure Will Not Violate SEC Advertising Rules
November 2, 2011
Legal Alert: Regulators Consider Whether Stable Value Contracts Should Be Subject to Regulation as Swaps under the Dodd-Frank Act and Solicit Public Comment
August 30, 2011
Legal Alert: Insurance Regulators Heighten Focus on Life Insurer's Separate Accounts
March 17, 2011
Legal Alert: The Consumer Financial Protection Bureau: Structure, Mission and Limitation of Authority Prior to the Appointment of a Director
March 8, 2011
Legal Alert: Cost of Insurance Litigation - Recent Ruling on Meaning of "Mortality Experience" and Other Developments
February 7, 2011
Legal Alert: New York's Highest Court Approves STOLI Policy Sales
November 18, 2010
Legal Alert: Federal Court: Egregious Facts May Permit Life Policy Rescission After Expiration of Incontestability Period
October 21, 2010
Legal Alert: DOL Finalizes New ERISA Disclosure Rules for Participant-Directed Retirement Plans
October 20, 2010
Legal Alert: The Financial Stability Oversight Council Holds Inaugural Meeting; Proposed Rulemakings on Nonbank Financial Companies and the Volcker Rule Will Impact Insurers
October 13, 2010
Legal Alert: Summary Judgment Granted for Defendant in Certified Deferred Annuity Class Action
October 8, 2010
Legal Alert: Annuity Surrender Charge/MVA Disclosures Held Insufficient in California
October 6, 2010
Legal Alert: Court Rejects Suit Alleging Fraud and Negligent Design in the Sale of Universal Life Insurance Policies
September 30, 2010
Legal Alert: Eighth Circuit Affirms Denial of Class Certification in Fixed Annuity Interest Crediting Case
August 30, 2010
Legal Alert: The Dodd-Frank Act: A New Era of Financial Regulation and the Implications for the Insurance Industry
August 3, 2010
Legal Alert: District Court Rules on Stranger-Initiated Annuity Transactions
June 4, 2010
Legal Alert: The Dodd Bill Redux: The Senate Takes Aim at Financial Regulatory Reform
March 19, 2010
Legal Alert: Securities and Exchange Commission Consents to Delay of Indexed Annuity Rule Effective Date
December 9, 2009
Legal Alert: Ninth Circuit Overturns Denial of Class Certification in Action Involving Sale of Annuities to Senior Citizens; Orders Class Certified
August 31, 2009
Legal Alert: Class Certification Denied in Fixed Indexed Annuity Interest-Crediting Case
July 27, 2009
Legal Alert: Court Rules on the SEC's Indexed Annuity Rule
July 22, 2009
H.R. 2733 Nullifying Rule 151A and Amending Section 3(a)(8) of the 1933 Act
June 11, 2009
Legal Alert: Court Hears Arguments in Case Challenging the SEC's Indexed Annuity Rule
May 13, 2009
Legal Alert: NAIC Requires Insurer Climate Risk Disclosure
May 12, 2009
Legal Alert: Supreme Court to Hear Investment Adviser Fee Case
March 16, 2009
Legal Alert: Class Decertification Denied in Action Involving Bonus Annuity Claims
March 2, 2009
Legal Alert: Class Certification Denied in Fixed Annuity Interest-Crediting Case
February 26, 2009
Legal Alert: SEC and FASB Provide Clarification on Fair Value Accounting Rules
October 2, 2008
Legal Alert: SEC Proposes Guidelines for Directors Overseeing Mutual Fund Portfolio Trading
August 5, 2008
Legal Alert: Seventh Circuit Rejects "Reasonableness" as the Standard for Excessive Fee Claims Under Section 36(b) of the 1940 Act
May 30, 2008
Legal Alert: Rulings on Class Certification, Expert Testimony and Summary Judgment in Case Involving Sales of Annuities for Qualified Retirement Plans
February 18, 2008
Legal Alert: Enhanced Disclosure and New Prospectus Delivery Option Proposed for Mutual Funds
November 30, 2007
Publications
Securities or Not: Uncertainties Remain For Fixed Insurance Products After Dodd-Frank
October 18, 2010 Reprinted with permission Securities Regulation & Law Report
Variable Insurance Products
1998 The Investment Company Regulation Deskbook
Events
NAVA 2007 Compliance and Regulatory Affairs Conference
June 24-26, 2007
2006 Compliance and Regulatory Affairs Conference
June 25-27, 2006
National Association for Variable Annuities 2005 Compliance & Regulatory Affairs Conference
June 26 - 28, 2005