ACGA Committee Spotlight - State Regulations
While the website is the most visible work of the Committee, there’s plenty going on behind the scenes as well. ACGA and the Committee have a long history of engaging directly with the regulators, addressing issues on behalf of the charitable community. Such work might involve voicing concerns or seeking clarification on a particular point, or providing input on proposed legislative or regulatory changes. This involvement has included working with the National Association of Insurance Commissioners on model exemption and regulatory acts in the 1990s, supporting legislative changes on investment restrictions in California, New Jersey, and New York in the early 2000s, and providing information to staffers in advance of legislation in 2014 that significantly reduced the level of regulation in Wisconsin. Most recently members of the Committee, along with other ACGA Board members, were able to engage in a discussion with the NY Department of Financial Services relating to guidance issued by the Department on portfolio diversification with respect to gift annuity reserve assets. . . more information will be forthcoming on this issue.
Your ACGA membership helps support the ongoing work of the Committee, and strengthens its voice on regulatory matters by reflecting the commitment of the charitable community to ACGA’s mission of responsible philanthropy. Thank you!