©2006 Investment Company Institute. All rights reserved. Information may be abridged and therefore incomplete.
Communications from the Institute do not constitute, and should not be considered a substitute for, legal advice.
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November 15, 2006
TO: 529 PLAN ADVISORY COMMITTEE No. 20-06
BOARD OF GOVERNORS No. 26-06
AML COMPLIANCE WORKING GROUP No. 23-06
CHIEF COMPLIANCE OFFICER COMMITTEE No. 18-06
CLOSED-END INVESTMENT COMPANY COMMITTEE No. 33-06
COMPLIANCE ADVISORY COMMITTEE No. 19-06
EQUITY MARKETS ADVISORY COMMITTEE No. 24-06
FIXED-INCOME ADVISORY COMMITTEE No. 9-06
INVESTMENT COMPANY DIRECTORS No. 27-06
MONEY MARKET FUNDS ADVISORY COMMITTEE No. 6-06
INTERNATIONAL COMMITTEE No. 29-06
INTERNATIONAL OPERATIONS ADVISORY COMMITTEE No. 33-06
INTERNATIONAL INVESTING SUBCOMMITTEE No. 23-06
INVESTMENT ADVISER MEMBERS No. 30-06
SEC RULES MEMBERS No. 101-06
UNIT INVESTMENT TRUST MEMBERS No. 24-06
VARIABLE INSURANCE PRODUCTS ADVISORY COMMITTEE No. 11-06
RE: IDC MANAGING DIRECTOR & ICI LAW DEPARTMENT PERSONNEL
I am writing to inform you of important personnel changes affecting the Independent Directors
Council (IDC) and the Institute’s legal staff.
Today, the IDC announced that Amy Lancellotta has been named IDC Managing Director. Amy has
been with our law department for more than 17 years, most recently as Senior Counsel for Securities
Regulation. She has rendered distinguished service to the Institute and the membership in this key role
and will bring great professional experience and industry knowledge to her new position with the IDC.
We are grateful to Tamara Salmon, who has served very effectively for the past several months as
Interim Managing Director for IDC, pending Amy’s appointment on a permanent basis. Tami will be
resuming her prior responsibilities in the law department.
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With Amy’s new assignment, we are making some organizational and personnel changes in the
Institute’s law department as well.
Robert Grohowski, who has been a key contributor on our legal staff since 1998, will become Senior
Counsel – Investment Companies. In this role, he will oversee issues arising under the Investment
Company and Investment Advisers Acts and other matters primarily administered by the SEC’s
Division of Investment Management. Bob currently directs our international work, and he will
continue to do so until we name a successor.
Ari Burstein, an ICI lawyer for the past eight years who is widely recognized for his expertise on market
structure and related issues, will become Senior Counsel – Capital Markets. In this role, Ari will
oversee issues affecting fund investors under the Securities Act of 1933 and the Securities Exchange Act
of 1934, as well as other matters primarily administered by the divisions of Market Regulation and
Corporation Finance.
Bob and Ari bring a wealth of experience to these roles. The new structure will permit us to maintain
our traditional strong focus on core investment company matters while devoting increased attention to
a growing portfolio of other securities regulatory matters impacting our members. Bob and Ari will
report to Elizabeth Krentzman, our General Counsel. They will work alongside Mary Podesta, Senior
Counsel – Pension Regulation, and Keith Lawson, Senior Counsel – Tax Law, as leaders of the
Institute’s outstanding legal team.
Below are links to the press releases announcing these changes. I hope you will join me in
congratulating Amy, Bob, and Ari on their important new positions with ICI. As always, please do not
hesitate to contact me if you have any questions.
Paul Schott Stevens
President
IDC Press Release:
http://www.idc1.org/getPublicPDF.do?file=press_idc_111506
ICI Press Release:
http://www.idc1.org/getPublicPDF.do?file=press_ici_111506