Arnold has nearly 30 years of experience in insurance, securities and banking law.
He helps insurance companies, broker-dealers, and investment advisers manage the complex distribution of insurance and investment products, while balancing the disparate challenges of complying with increased regulatory processes, and doing so in an economically efficient manner.
Eric frequently reviews, revises and updates broker-dealer clients’ compliance manuals and procedures to reflect the impact of new rules, regulations, and interpretations. He regularly advises broker-dealer and investment advisers on financial, operational, and reporting requirements, including privacy, suitability and compensation issues.
On the transactional side, Eric counsels financial services clients on changes to their distribution structures, which includes providing assistance with adding to, subtracting from, and/or consolidating and combining broker-dealer, investment adviser, and insurance agency operations in compliance with the applicable regulatory structure.
Since the passage of the Dodd-Frank Act, Eric closely follows the developing role of federal oversight of insurance activities.
- Represented Securian Financial Group, Inc. in the auctioned sale of its retirement plan recordkeeping business to Standard Insurance Company.
- Represented Mutual of America Life Insurance Company, a New York domestic mutual life and annuity insurer, on its acquisition of 100% of the stock of Grandmark Funds, Inc. and its wholly owned subsidiary, Landmark Life Insurance Company.
- Represented Advisor Group in its acquisition of Ladenburg Thalmann Financial Services Inc., a transaction with a total enterprise value of approximately $1.3 billion.
- Represented Advisor Group in the purchase of selected assets and customer accounts from Quester Capital Corp. and Quester Asset Management Inc.
- Advised financial institutions and payment processors providing services to cannabis businesses on potential liability under the Money Laundering Control Act and the Controlled Substances Act.
- Dual Registrant Regulatory Summit: Standard of Conduct – Where Do We Go From Here? (webcast), April 20, 2021
- DC Legal Panel, July 29, 2020, National Association for Fixed Annuities (NAFA)
- Webinar: BI:FYI – A Webinar Series on Federal and State Best Interest Initiative | Part 1: Enhancing Industry Best Interest Practices, June 25, 2020, ACLI
- Hat Switching, Special Challenges for Dual Registrants and Documenting Investment Advice Provided as an Investment Adviser, October 29, 2019, Envestnet
- Webcast: Planning for a Patchwork of Best Interest Standards, November 15, 2018
- Chapter 5: Banks Selling Annuities, July 2017, Annuities Answer Book – published by Wolters Kluwer
- The Financial Services Regulatory Revolution: Navigating the New World of Broker-Dealer and Investment Adviser Regulation, September 23, 2011, ALI-ABA
- Fiduciary Duty Forum, July 28, 2010
- The Financial Services Regulatory Revolution: Navigating the New World of Broker-Dealer and Investment Adviser Regulation, October 8-9, 2009
- District of Columbia
- B.S., Brown University
- J.D., Vanderbilt University Law School,
Associate Editor, Vanderbilt Law Review, Order of the Coif
Latest Insights
- InsightsDepartment of Labor’s Fiduciary Rule 4.0 proposal
- InsightsSEC finalizes highly controversial private fund adviser rule set – a quick review of where things landed
- InsightsSEC seeks to finalize highly controversial private fund adviser ruleset – What we are looking out for
- InsightsSEC takes on AI use by broker-dealers and investment advisers – Expansive coverage of types of technology and investor interaction in play
- InsightsSEC takes on AI use by investment advisers and broker-dealers
- InsightsNAIC Life and Annuities (A) Committee adopts amendments to Actuarial Guideline 49-A
- InsightsNAIC Indexed Universal Life Illustration Subgroup solicits comment on options to revise Actuarial Guideline 49-A and to open NAIC Life Insurance Illustrations Model Regulation (#582) to revision
- InsightsCompliance Tips: Broker-Dealer and Adviser Use of Personal Devices
- InsightsNAIC’s LATF solicits feedback on options to address concerns related to AG 49-A
- InsightsSEC proposes enhanced investment company and investment adviser ESG disclosures
- InsightsSEC charges investment adviser in connection with use of backtested performance
- InsightsSEC enforcement action highlights evolution in SEC’s stance on hedge clauses in advisory agreements
- InsightsThe UK’s Financial Conduct Authority has proposed a heightened Consumer Duty on regulated firms
- InsightsNAIC report – 2021 Fall National Meeting
- InsightsDOL extends temporary enforcement policy for conflicted fiduciaries, delays rollover enforcement
- InsightsNAIC Report – 2021 Summer National Meeting
- InsightsDOL Fiduciary Rule 3.0: The sprint to December 20
- InsightsDOL warns the ERISA fiduciary debate is far from over
- InsightsNAIC Report – 2021 Spring National Meeting
- InsightsDigital Assets: The SEC’s roadmap for distribution and exams
Latest News
- NewsEversheds Sutherland Advises Securian Financial in Sale of Retirement Plan Recordkeeping Business to The Standard
- NewsInsurance News Net: Election Could Reverse Annuity Reg Alignment, Panelists Say
Insights
Department of Labor’s Fiduciary Rule 4.0 proposal
Insights
SEC finalizes highly controversial private fund adviser rule set – a quick ...
Insights
SEC seeks to finalize highly controversial private fund adviser ruleset – W...
Insights
SEC takes on AI use by broker-dealers and investment advisers – Expansive c...