ACIC Private Notes - November/December 2019

A recap of the Fall 2019 ACIC Annual Meeting and Education Conference co-hosted by Nicole Windsor (Chapman and Cutler) and Alfredo Cantoral (PPM America), courtesy of Aaron Borden (Prudential Financial);

Upcoming dates for the 2020 Spring Investment Forum

An update on the Ultra make-whole saga, courtesy of Renée Dailey (Akin Gump)

A fantastic analysis of proposed amendments to the SEC's Advertising Rule that seek to modernize the rules governing advertisement practices of registered investment advisers (authored by Clifford Chance LLP and re-printed with permission, courtesy of Kristen Gudewicz (AIG Investments)); and

A spotlight on the newest officers and trustees of the ACIC, courtesy of Benjamin Cordiano (Morgan Lewis).

We wish you a joyful holiday season and a very happy new year. See you in 2020!

Recap of Fall 2019 ACIC Annual Meeting and Education Conference

Once again, the Fall 2019 ACIC Annual Meeting and Education Conference was a resounding success! Nicole Windsor (Chapman and Cutler) and Alfredo Cantoral (PPM America) co-hosted a fascinating and educational program themed "All Aboard for a Grand Adventure!".

For a full recap of all of the sessions, click here.

To see the full photo album, click here.

Save the Dates: 2020 Spring Investment Forum

We hope to see you in Chicago next year at the Four Seasons for the Spring Forum on April 16^th and 17^th, 2020. Stay tuned for more information on the theme, co-hosts, and sneak peaks of the sessions to be revealed in future editions of the ACIC Private Notes and the ACIC Website.

The Ultra Make-Whole Saga Continues

On November 26, 2019 the U.S. Court of Appeals for the Fifth Circuit granted the Noteholder's Motion for Reconsideration, reconsidered its January 17, 2019 decision and issued a substitute opinion, which vacates the portion of the court's original opinion that held that make-whole was unmatured interest under the Bankruptcy Code and, therefore, not a permissible component of a claim in bankruptcy. Click here to learn more.

Proposed Amendments to the SEC's Advertising Rule

In November, the SEC proposed amendments that would comprehensively modernize the Advertising Rule, which was first adopted 58 years ago under the Investment Advisers Act of 1940. These amendments seek to make the rule relevant to a 21st-century industry replete with private funds, institutional clients and investors, websites, social media and robo-advisers. Click here to learn more.

New Officers & Trustees

Congratulations to each of the following new officers and trustees who were elected at the Fall 2019 ACIC Annual Meeting and Education Conference:

Officers for the 2019 - 2020 Period:

* President: Anthony D. Yager (Chapman and Cutler)

* Vice President 1: Tina Smith (Thrivent Financial)

* Vice President 2: Christopher S. Dallas (Pacific Life)

* Secretary: Renée M. Dailey (Akin Gump)

* Treasurer: Luke A. Weedon (Baker Botts)

Class of 2022 Trustees, each to serve for a three year term :

* Danielle Maksimow (Norton Rose Fulbright)

* Daniel J. Favero (Mayer Brown)

* Alfredo Cantoral (PPM America)

To learn more about our new leadership team, click here.

American College of Investment Counsel

www.aciclaw.org

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