Jan 2014–Present
Current role
Shareholder
Carlton Fields
Washington DC, District of Columbia
Attorney AdvisorEnforcementFinancial AdvisorRegulatory SpecialistComplianceLegalEnvironmental, Social, and Governance (ESG)
About
Ann Furman has extensive experience representing financial services clients in complex regulatory matters arising under the federal securities laws, FINRA rules, and state insurance laws. She advises investment companies, broker-dealers, investment advisers, life insurance companies, and transfer agents in a wide array of regulatory, compliance, governance, and enforcement matters.
As a counselor to mutual funds and insurance companies offering insurance and securities products, Ann works closely with clients to identify creative solutions to regulatory issues pending before the SEC and FINRA. She has represented both open-end and closed-end investment company boards of directors and special committees of directors.
Ann advises distributors of mutual funds and insurance products on a broad range of distribution issues, including standard of conduct (best interest and suitability), advertising and marketing, electronic delivery, net capital, and FINRA membership and continuing membership applications (on Forms NMA and CMA), and interpretive issues relating to registration (and deregistration) of broker-dealer personnel (on Forms U4 and U5).
Ann represents broker-dealer and investment adviser clients in internal investigations, regulatory compliance inspections and examinations, and SEC and FINRA regulatory enforcement matters. She counsels clients on litigation and regulatory risk under federal securities and insurance law. Ann served as an SEC-approved independent compliance consultant retained as part of the resolution of an SEC enforcement action.
Ann is the co-chair of the firm’s Financial Services – Regulatory Practice and a contributing author to The Investment Lawyer and the Handbook on ERISA Litigation.
Roles
Sep 1987–Dec 2013
Former role
Partner and Chair, Securities Industry Group
Jorden Burt LLP
Washington DC, District of Columbia
Legal
Mar 1983–Jan 1987
Former role
Special Assistant
U.S. Department of Justice (DOJ), Assistant Attorney General
(appointed)District of Columbia
GovernmentLitigation Support SpecialistLegalCorporate LawCriminal Investigation
Recognition
Honors
Stand-Out Lawyers
Thomson Reuters
January 2024
The Best Lawyers in America
Mutual Funds Law
January 2025
Publications & speeches
Life Insurance and Annuity Developments
The Investment Lawyer
January 2025
LinkFINRA Issues 2025 Annual Regulatory Oversight Report
Carlton Fields Publication
February 2025
On January 28, 2025, FINRA issued its 2025 Annual Regulatory Oversight Report, providing a detailed look into FINRA’s current regulatory oversight of member firms and their registered personnel. Spanning 80 pages, the 2025 report incorporates content from previous reports, adding three new topic areas, including the third-party risk landscape, registered index-linked annuities (RILAs), and extended hours trading. Additionally, the report highlights updates to key areas, such as artificial intelligence (AI), investment fraud by bad actors, the Remote Inspections Pilot Program and Residential Supervisory Location designation, and trade reporting enhancements for fractional share transactions.
Amendments to N-PORT May Be OUT-Ported New SEC Reporting Requirements Already Under Challenge
Carlton Fields Publication
January 2025
Gary Gensler’s tenure as SEC chair can be remembered for an impressive number of rule proposals, many of which encountered vehement industry opposition or were challenged in court, struck down, or stayed.
FINRA and SEC Float Concerns Over Social Media Finfluencers
Carlton Fields Publications
September 2024
Social media marketing is an important form of advertising in our digital world, particularly with a target audience of younger investors. This has caught the eye of FINRA and the SEC. Social media influencers in the financial services industry (informally dubbed “finfluencers”) receive compensation from broker-dealers, investment advisers, or others to promote financial products on social media platforms such as TikTok, Facebook, Instagram, YouTube, X, Stocktwits, Reddit, and Twitch. Through a variety of social media influencer programs (or referral programs), finfluencers with large online followings may receive bonuses, rewards, incentives, or other compensation for referring new customers to open accounts at a firm or purchase securities from a firm.
Rules for RILA and MVA Marketing Communications—Still Being Held Back, But There Remains a Crack in the Door
The Investment Lawyer
September 2024
On July 1, 2024, the Securities and Exchange Commission (Commission) issued a release (Adopting Release) adopting amendments to certain existing rules and forms for registered index-linked annuities (RILAs) and registered market-value adjustment annuities (MVAs).1 Among these are certain communications related rules under the Securities Act of 1933 (1933 Act), that is, Rules156, 433 and 482, and the decisions announced in the Adopting Release regarding the extent to which these rules should apply to RILAs and MVAs have generated some controversy.
FINRA: Advertising, Social Media, and Regulatory Developments
ALI CLE Conference on Life Insurance Products — Washington, DC
November 2024
A Primer on Form U5 Defamation Issues and Cases
SIFMA Compliance and Legal Executive Committee Meeting
July 2024
The SEC Regulatory Landscape: New Cases, New Rules
2024 IRI Annual Conference — Nashville, TN
April 2024
FINRA Advertising, Social Media, and Regulatory Developments
ALI CLE Conference on Life Insurance Products — Washington, D.C.
November 2023
Compliance Summit
Integrity Marketing Group LLC
January 2023