Richard T. Choi
Partner

Washington, D.C.

Email: rtc@jordenusa.com
Phone: 202.965.8127
Fax: 202.965.8104

Richard T. Choi is a Partner in the Washington, DC office of Jorden Burt LLP. Mr. Choi has extensive experience advising investment companies, investment advisers, broker-dealers, and life insurance companies on federal and state securities and insurance compliance and regulatory matters.

Mr. Choi's experience includes advising investment company boards, independent directors and trustees, and special committees of directors and trustees. He counsels clients on the development and distribution of sophisticated financial products, such as variable annuities, variable life insurance, and face-amount certificates. His experience also includes representation of investment advisers and investment companies in regulatory compliance inspections and examinations, opinions on the availability of 1940 Act exemptions in connection with various types of transactions, and in-house training and education seminars on a variety of regulatory and compliance matters.

Mr. Choi has published numerous articles and regularly speaks on federal securities issues relating to variable insurance products and mutual funds. Mr. Choi has appeared on Bloomberg TV and has been quoted in Bloomberg, the Chicago Tribune, the Los Angeles Times, National Underwriter, U.S. Banker, the Wall Street Journal Online, and other financial and trade publications.

Speeches and Publications

All papers (other than contributions to treatises and white papers) were the subject of speeches at the conferences indicated. This list does not include training, educational, and other seminars or presentations that Mr. Choi provided to or on behalf of clients.

2011

Co-Chair, 29th Annual Advanced ALI-ABA Conference on Life Insurance Products: Current SEC, FINRA, Insurance, Tax, and ERISA Regulatory and Compliance Issues, Washington, DC (November 3-4, 2011)

Moderator, SEC Initiatives, Insured Retirement Institute (IRI), 2011 Government, Regulatory & Compliance Conference, Washington, DC (June 26-28, 2011)

Co-Moderator, Life Insurance Company Products: Key Federal Regulatory Developments Update, ALI-ABA Webinar (February 3, 2011)

2010

Co-Chair, 28th Annual Advanced ALI-ABA Conference on Life Insurance Products: Current SEC, FINRA, Insurance, Tax, and ERISA Regulatory and Compliance Issues, Washington, DC (October 28-29, 2010)

Moderator, SEC Regulation & Rulemaking, Insured Retirement Institute (IRI), 2010 Government, Regulatory & Compliance Conference, Washington, DC (April 28-30, 2010)

Speaker, Variable Annuity Summary Prospectus, Insured Retirement Institute (IRI), 2010 Government, Regulatory & Compliance Conference, Washington, DC (April 28-30, 2010)

Speaker, How Regulation Will Shape Our Future, LIMRA's 61st Distribution Leaders Round Table, Bonita Springs, FL (February 3-5, 2010)

2009

Co-Chair, 27th Annual Advanced ALI-ABA Conference on Life Insurance Products: Current SEC, FINRA, Insurance, Tax, and ERISA Regulatory and Compliance Issues, Washington, DC (November 5-6, 2009)

Moderator, SEC Regulation & Rulemaking, National Association for Variable Annuities (NAVA), 2009 Compliance and Regulatory Affairs Conference, Washington , DC (June 8-9, 2009)

2008

Co-Chair, 26th Annual Advanced ALI-ABA Conference on Life Insurance Products: Current SEC, FINRA, Insurance, Tax, and ERISA Regulatory and Compliance Issues, Washington, DC (November 13-14, 2008)

Moderator, Meeting Tomorrow's Needs Today Through Innovative Retirement Income Solutions, National Association for Variable Annuities (NAVA), 2008 Annual Meeting, Philadelphia, PA (October 5-7, 2008)

Speaker, Guidance for Using Solicitors and Third-Party Marketers, The 5th Annual Marketing & Advertising Compliance Forum for Investment Advisers, New York, NY (September 15-16, 2008)

Co-Moderator, Senior Investors, National Association for Variable Annuities (NAVA), 2008 Compliance and Regulatory Affairs Conference, Washington, DC (June 2-3, 2008)

Moderator, Investment Manager Roundtable: Competing in the Retirement Income Marketplace, FRA's 2008 Retirement Income Distribution Evolution Summit, The Harvard Club, Boston, MA (April 29-30, 2008)

2007

Co-Chair, 25th Annual Advanced Conference/Video Webcast on Life Insurance Company Products: Current SEC, FINRA, Insurance Tax, and ERISA Regulatory and Compliance Issues, Washington, DC (November 8-9, 2007)

Speaker, Registered Investment Advisers: Overview and Basics, National Association for Fixed Annuities (NAFA) Annual Annuity Marketing Expo 2007, Las Vegas, NV (October 17-18, 2007)

Moderator, Revenue Sharing, National Association for Variable Annuities (NAVA), 2007 Compliance and Regulatory Affairs Conference,Washington , DC (June 24-26, 2007)

Speaker, Annuity Review, The Association of Life Insurance Counsel (ALIC), 2007 Annual Meeting, San Diego, CA (May 6-8, 2007)

Speaker, Variable Annuities and Mutual Funds - The Issuer's Perspective: Insurance Company Perspectives on Suitability and Revenue Sharing , SIFMA Compliance & Legal Division's 38th Annual Seminar, Phoenix, AZ (March 25-28, 2007)

Speaker, The Salient Regulatory Constraints , Retirement Income Industry Association (RIIA), Third Annual Managing Retirement Income Conference, Boston, MA (February 12-14, 2007)

2006

Speaker, Funds of Funds, ETFs, and Certain Underlying Fund Developments, 24th Annual ALI-ABA Conference on Life Insurance Company Products: Current SEC, FINRA, Insurance, Tax, and ERISA Regulatory and Compliance Issues, Washington, DC (November 16-17, 2006)

Speaker, Variable Product Distribution, National Association for Variable Annuities (NAVA), 2006 Compliance and Regulatory Affairs Conference, Washington, DC (June 25-27, 2006)

R. Choi, Equity-Indexed Annuities: Recent NASD Pronouncements, American Council of Life Insurers (ACLI) 2006 Insurance the Law Seminar, San Antonio, TX (February 26-28, 2006)

Moderator, Bullet-Proofing Your Sales in a Smoking-Hot Regulatory Environment, National Association for Variable Annuities (NAVA), 2006 Marketing Conference, Rancho Mirage, CA (February 5-8, 2006)

Insurance Products as Securities, Practising Law Institute (PLI), 2006 Program on Understanding the Securities Products of Insurance Companies, New York, NY (January 9, 2006)

2005

Speaker, The Year Ahead for Annuities: Regulation, Process and Distribution, ADP, 2005 Client Conference, Reston, VA (November 7-9, 2005)

Speaker, Rule 12b-1 Fees: Recent Developments, ALI-ABA Conference on Investment Management Regulation, Washington, DC (October 20, 2005)

Moderator, Litigation and SEC Examinations and Enforcement, National Association for Variable Annuities (NAVA), 2005 Compliance and Regulatory Affairs Conference, Washington, DC (June 26-28, 2005)

Speaker, Insurance Products as Securities, Practising Law Institute (PLI), 2005 Program on Understanding the Securities Products of Insurance Companies, New York, NY (January 24, 2005)

R. Choi and J. Smith, Special Issues of Investment Advisers and Investment Companies, Chapter 29, Securities Enforcement: Counseling and Defense (Winer & Winer eds. 2005)

2004

R. Choi, How Customers Are Protected: Protections Under the Investment Company Act of 1940, NASD Institute For Professional Development, Phase II, Variable Products Symposium, University of Miami, Miami, FL (December 6-10, 2004)

Speaker, Proposed Confirmation And Point-Of-Sale Disclosure Requirements For Broker-Dealers, ALI-ABA Conference on Investment Management Regulation, Washington, DC (October 28, 2004)

Moderator, SEC Examinations and Enforcement, National Association for Variable Annuities (NAVA), 2004 Regulatory Affairs Conference, Washington, DC (June 13-15, 2004)

Speaker, Financial Services Litigation After Canary Capital: A Bird's Eye View, ABA Tort, Trial and Insurance Practice Section: Hot Topics and Emerging Issues in Insurance, Benefits and Financial Services, 30th Annual CLE Midwinter Meeting, Orlando, FL (January 15-18, 2004)

2003

R. Choi, How Customers Are Protected: Protections Under the Investment Company Act of 1940, NASD Institute For Professional Development, Phase II, Variable Products Symposium, University of Miami, Miami, FL (December 8-12, 2003)

Co-Chair, 2003 Regulatory Affairs Conference: Responding to a Rapidly Changing Regulatory Environment, National Association for Variable Annuities (NAVA), Washington, DC (June 15-17, 2003)

Speaker, A Conversation with the SEC, National Association for Variable Annuities (NAVA), 2003 Regulatory Affairs Conference, Washington, DC (June 15-17, 2003)

Speaker, A Conversation with the NASD, National Association for Variable Annuities (NAVA), 2003 Regulatory Affairs Conference, Washington, DC (June 15-17, 2003)

Moderator, Litigation Issues, National Association for Variable Annuities (NAVA), 2003 Regulatory Affairs Conference, Washington, DC (June 15-17, 2003)

R. Choi, How Customers Are Protected: Protections Under the Investment Company Act of 1940, NASD Institute For Professional Development, Phase II, Variable Products Symposium, University of Chicago Gleacher Center, Chicago, IL (June 9-13, 2003)

Speaker, Mutual Funds and Variable Insurance Products: Recent Judicial and Regulatory Developments , ABA Tort, Trial and Insurance Practice Section , 29th Annual CLE Midwinter Meeting, Boca Raton, FL (January 16-19, 2003)

2002

R. Choi, How Customers Are Protected: Protections Under the Investment Company Act of 1940, NASD Institute For Professional Development, Phase II, Variable Products Symposium, University of Miami, Miami, FL (December 8-13, 2002)

Moderator, The New Variable Life Registration Form: Form N-6, National Association for Variable Annuities (NAVA), 2002 Regulatory Affairs Conference, Washington, DC (June 24-25, 2002)

R. Choi, How Customers Are Protected: Protections Under the Investment Company Act of 1940, NASD Institute For Professional Development, Phase II, Variable Products Symposium, Mount Washington Conference Center, Baltimore, MD (May 12-17, 2002)

Speaker, Variable Annuities Seminar, NASD Institute for Professional Development, Arlington, VA (February 22, 2002)

Speaker, Variable Insurance Products: Advertising and Illustrations, Practising Law Institute (PLI), 2002 Program on Understanding the Securities Products of Insurance Companies, New York, NY (January 10-11, 2002)

Speaker, Marketing Variable Insurance Products Post- Gramm Leach Bliley, ABA Tort, Trial and Insurance Practice Section, 28th Annual CLE Midwinter Meeting, Lake Buena Vista, FL (January 16-19, 2002)

2001

R. Choi, How Customers Are Protected: Protections Under the Investment Company Act of 1940, NASD Institute For Professional Development, Phase II, Variable Products Symposium, Georgetown University (December 2-7, 2001)

Speaker, Marketing Variable Insurance Products Online: E-SIGN and BEYOND, American Conference Institute (ACI), Third National legal and Regulatory Forum on Online Insurance Transactions, New York, NY (November 12-13, 2001)

R. Choi, How Customers Are Protected: Protections Under the Investment Company Act of 1940, NASD Institute For Professional Development, Phase II, Variable Products Symposium, Georgetown University (July 29-August 3, 2001)

R. Choi, Section 11: Recent SEC Pronouncements, National Association for Variable Annuities (NAVA), 2001 Regulatory Affairs Conference, Washington, DC (June 24-26, 2001)

Contributor, Financial Services Privacy Regulation: A Perspective From The Variable Contract Industry, National Association for Variable Annuities White Paper (May 2001)

R. Choi and J. Engelsman, Ensuring Compliance On Your Financial Web Site, IQPC Conference on Web Content Management for Financial Services, New York, NY (January 17-18, 2001)

R. Choi, Marketing Variable Insurance Contracts on the Web: Recent Developments in Federal Law, ABA Torts and Insurance Practice Section, 27th Annual Committee CLE Midwinter Meeting, Palm Beach, FL (January 10-13, 2001)

2000

Panelist, Gramm-Leach-Bliley Privacy Regulation Compliance Seminar, National Association for Variable Annuities (NAVA), Arlington, VA (December 14, 2000)

R. Choi, How Customers Are Protected: Federal and State Requirements-- Protections Under the Investment Company Act of 1940, NASD Institute for Professional Development, Variable Products Symposium, Fordham University, New York, NY (October 30-31, 2000)

R. Choi, Mutual Funds and the Internet: Current Industry Practice, The New E-Signature Law, and Recent SEC Pronouncements, ALI-ABA Conference on Investment Management Regulation, Washington, DC (October 26-27, 2000)

R. Choi and W. Thomas Conner, Using Technology to Sell and Service Variable Products: Spotting the Regulatory Land Mines, National Association for Variable Annuities (NAVA), Ninth Annual Meeting, Harnessing Technology, Atlanta, GA (October 15-17, 2000)

R. Choi, Variable Annuity Sales Practices: Industry Trends and Recent SEC and NASD Pronouncements on Suitability, National Association for Variable Annuities (NAVA), 2000 Regulatory Affairs Conference, Washington, DC (June 4-6, 2000)

1999

Speaker, Electronic Sales and Communication, National Association for Variable Annuities (NAVA), 1999 Regulatory Affairs Conference, Washington, DC (June 27-29, 1999)

R. Choi, Marketing on the Internet, Chapter 19, Regulation and Distribution of Variable Insurance Products (C. Kirsch ed. 1999)

R. Choi, Electronic Marketing of Mutual Funds: SEC Pronouncements, Practising Law Institute, Securities Law & The Internet: Doing Business in a Rapidly Changing Marketplace, New York, NY (June 10-11, 1999)

1998

R. Choi, Electronic Marketing and Servicing of Variable Insurance Products: Current Industry Practice and SEC Pronouncements, National Association for Variable Annuities (NAVA), 1998 Annual Meeting, Washington, DC (October 4-6, 1998)

R. Choi, Electronic Marketing and Servicing of Variable Insurance Products: Recent SEC Requirements, National Association for Variable Annuities (NAVA), Third Annual Regulatory Affairs Conference, Washington, DC (June 14-16, 1998)

1997

R. Choi, Marketing Variable Insurance Products on the Internet: Recent SEC and NASD Pronouncements, National Association for Variable Annuities (NAVA), Second Annual Compliance Conference, Washington, DC (June 30-July 1, 1997)

R. Choi, Marketing Variable Insurance Products on the Internet: A Review of Recent SEC and NASD Pronouncements, Institute For International Research, Cyber Insurance '97, Netting the Power of the Internet to Maximize Insurance Marketing & Sales On-Line, New York, NY (January 23-24, 1997)

1996

R. Choi, Electronic Marketing of Variable Insurance Products on the Internet: SEC Requirements and Industry Developments, National Association for Variable Annuities (NAVA), 1996 Annual Compliance Conference, Washington, DC (June 30-July 2, 1996)