About the Conference
ACLI & SOA
ReFocus is an annual global conference for senior-level life insurance and reinsurance executives hosted jointly by ACLI and the Society of Actuaries (SOA). This event features top-notch speakers, thought-provoking sessions, and superior networking opportunities.
About American Council of Life Insurers (ACLI)
The American Council of Life Insurers (ACLI) is the leading trade association driving public policy and advocacy on behalf of the life insurance industry. 90 million American families rely on the life insurance industry for financial protection and retirement security. ACLI’s member companies are dedicated to protecting consumers’ financial wellbeing through life insurance, annuities, retirement plans, long-term care insurance, disability income insurance, reinsurance, and dental, vision and other supplemental benefits. ACLI’s 280 member companies represent 95 percent of industry assets in the United States.
About Society of Actuaries (SOA)
The Society of Actuaries (SOA) is the largest professional organization of its kind, dedicated to serving our more than 30,000 members worldwide, each of whom is a leader in the measurement and management of risk. Through research and education, our mission is to advance actuarial knowledge and enhance the ability of actuaries to provide expert advice and relevant solutions for financial, business and societal challenges.
SOA Antitrust Compliance Guidelines
Active participation in the Society of Actuaries is an important aspect of membership. While the positive contributions of professional societies and associations are well-recognized and encouraged, association activities are vulnerable to close antitrust scrutiny. By their very nature, associations bring together industry competitors and other market participants.
The United States antitrust laws aim to protect consumers by preserving the free economy and prohibiting anti-competitive business practices; they promote competition. There are both state and federal antitrust laws, although state antitrust laws closely follow federal law. The Sherman Act, is the primary U.S. antitrust law pertaining to association activities. The Sherman Act prohibits every contract, combination or conspiracy that places an unreasonable restraint on trade. There are, however, some activities that are illegal under all circumstances, such as price fixing, market allocation and collusive bidding.
There is no safe harbor under the antitrust law for professional association activities. Therefore, association meeting participants should refrain from discussing any activity that could potentially be construed as having an anti-competitive effect. Discussions relating to product or service pricing, market allocations, membership restrictions, product standardization or other conditions on trade could arguably be perceived as a restraint on trade and may expose the SOA and its members to antitrust enforcement procedures.
While participating in all SOA in person meetings, webinars, teleconferences or side discussions, you should avoid discussing competitively sensitive information with competitors and follow these guidelines:
Do not discuss prices for services or products or anything else that might affect prices
Do not discuss what you or other entities plan to do in a particular geographic or product markets or with particular customers.
Do not speak on behalf of the SOA or any of its committees unless specifically authorized to do so.
Do leave a meeting where any anticompetitive pricing or market allocation discussion occurs.
Do alert SOA staff and/or legal counsel to any concerning discussions
Do consult with legal counsel before raising any matter or making a statement that may involve competitively sensitive information.
Adherence to these guidelines involves not only avoidance of antitrust violations, but avoidance of behavior which might be so construed. These guidelines only provide an overview of prohibited activities. SOA legal counsel reviews meeting agenda and materials as deemed appropriate and any discussion that departs from the formal agenda should be scrutinized carefully. Antitrust compliance is everyone’s responsibility; however, please seek legal counsel if you have any questions or concerns.
SOA Continuing Professional Development (CPD) Requirement