Welcome everyone to a new year with the Insurance and Financial Services Committee of the ABA Antitrust Section. We wanted to introduce our leadership to you and let you know about upcoming events and opportunities to get involved in the Committee.
Advisory Committee. We welcome to our team for another year our terrific Advisory Committee, which consists of experts across the insurance and financial services disciplines. The Advisory Committee is a geographically and discipline-diverse group, with lawyers and economists that represent state government and private clients, practice in the United States and Europe, consult and otherwise have their fingers on the pulse of the industries we cover. For more information regarding our Advisory Committee, please contact Henry McFarland or Eric Stock.
Membership. We are eager to expand our ranks and have several activities planned in the coming year to introduce both ourselves and the benefits of Committee involvement. For more information about how to get involved in the committee contact Elizabeth Prewitt.
Newsletter. Our newsletter, The Exchange, is published twice a year and is quickly becoming a leading source of information for those interested in developments that lie where antitrust and consumer protection intersect with insurance and financial services. We send out periodic calls for articles on topics of current relevance, but we also welcome and encourage innovative proposals for content. Those interested in being published can contact Bret Fulkerson
Listserv and Social Media. We post recent developments, announcements, and other news on our listserv and Connect pages. For more information about how to contribute to these platforms contact Bret Fulkerson. A link for signing up for the listserv is at the bottom of the right-hand column on this page.
Programs. We are working on several exciting programs for the balance of the year and are looking forward to the Section’s 2015 Spring Meeting. Please contact Henry McFarland, Mike Miller, Elizabeth Prewitt, or Eric Stock with your ideas for additional programs.
Insurance Handbook. We are in the process of updating and revising the Insurance Antitrust Handbook, last revised in 2006 and used often by the top practitioners and enforcers. To help with drafting and editing the book, please contact Eric Stock.
The Section of Antitrust Law published the first edition of the Private Equity Antitrust Handbook on Sept. 1. The Handbook, which is now available in the ABA Store, draws on the expertise of domestic and international merger control experts and is the first of its kind to address antitrust issues in a private equity context. It provides an overview of U.S. antitrust law, focusing on the unique challenges presented by complex fund structures and investment models. The Handbook also provides guidelines for the U.S. merger control regime under the Hart-Scott-Rodino Act, and introduces key topics in substantive antitrust analysis. Following a discussion of club deals, it reviews merger control regimes in key jurisdictions, including the European Union, Brazil, China, and India.
"This book provides an excellent summary of the relevant considerations and discusses important antitrust issues such as substantive merger analysis, director interlocks, and bidding consortia. The Handbook should be on every private equity's lawyer's bookshelf."
-- Daniel Weintraub, Managing Director and General Counsel at Audax Group
Committee Charter The Insurance and Financial Services Committee is dedicated to providing a forum for discussion of a wide range of competition and consumer protection issues that affect insurance and financial markets and institutions. We strive to be a valuable resource for members with a variety of perspectives, including that of antitrust, competition, and consumer protection lawyers and that of lawyers and business people involved in the insurance industry and a broad array of financial services, including the securities and commodities markets, banking, payment systems, and a broad array of other financial services.
Our Committee programs and newsletter address the wide variety of competition and consumer protection developments that affect insurance and financial services, including enforcement proceedings, competition and consumer protection policy at the regulatory agencies, legislation, and litigation. We aim to present the views not only of industry participants and private practitioners, but also of representatives of a wide variety of government agencies including the Antitrust Division of the Department of Justice, the Federal Trade Commission, the Consumer Financial Protection Bureau, the Securities and Exchange Commission, the Federal Reserve Board, the Office of the Comptroller of the Currency, and state antitrust, consumer protection, and insurance regulators.
With our diverse membership, the Committee offers a forum for members to engage in lively debate on the many competition and consumer protection issues currently facing the insurance and financial services industries. We keep our members apprised of new developments, as well as Committee activities and programs, principally through email alerts. In addition, a more detailed discussion of recent court decisions, merger activity, government enforcement activities and pending legislation of interest is provided in our Committee’s newsletter. The newsletter is published at least two times per year.
Recent events have enhanced the relevance of Committee activities to the Section’s membership. The recent collapse of leading financial institutions and insurance companies, as well as the significant number of criminal investigations stemming from the financial sector, has led to increasing calls for regulation, and to questions about the role of competition and free markets in these sectors. The Committee continues to monitor, analyze, and develop programs bearing on the issues for the benefit of the Section’s membership.