Ann Began Furman

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.

• "Stand-Out Lawyers," Thomson Reuters (2024–2025)
• The Best Lawyers in America, Mutual Funds Law (2025)

• American Bar Association
  • Subcommittee on Securities Activities of Insurance Companies, Business Law Section
• Association of Life Insurance Counsel
• District of Columbia Bar
  • Investment Management Committee
• Insured Retirement Institute
  • Securities Regulatory and Advocacy Committee
  • Broker-Dealer Committee
• Editorial Board of The Investment Lawyer
• Faculty Member, ALI-ABA Conference on Life Insurance Company Products
• Faculty Member, IRI Government, Legal, and Regulatory Affairs Conference
• Faculty Member, ACLI Compliance and Legal Sections Annual Meeting
• Catholic Charities of the Diocese of Arlington

• “FINRA: Advertising, Social Media, and Regulatory Developments,” ALI CLE Conference on Life Insurance Products, Washington, D.C. (November 8, 2024)
• “A Primer on Form U5 Defamation Issues and Cases,” SIFMA Compliance and Legal Executive Committee Meeting (July 9, 2024)
• “The SEC Regulatory Landscape: New Cases, New Rules,” 2024 IRI Annual Conference, Nashville, TN (April 3, 2024)
• "FINRA Advertising, Social Media, and Regulatory Developments," ALI CLE Conference on Life Insurance Products, Washington, D.C. (November 3, 2023)
• Integrity Marketing Group LLC Compliance Summit (2023)
• "Advertising Training Seminar," Client Presentation (September 22, 2022)
• "FINRA Regulation: Current Advertising, Social Media, and Regulatory Developments," ALI CLE Conference on Life Insurance Products, Washington, D.C. (November 4-5, 2021)
• "Compliance Insights from Lessons Learned," ACLI Compliance and Legal Sections Annual Meeting (December 9, 2020)
• "FINRA Examination Priorities and Findings for 2020," ABA Third Annual Current Issues in FINRA Arbitration and Enforcement Regional CLE Program, ABA Securities Litigation Committee of the Section of Litigation (February 20, 2020)
• "Protecting Older Investors," IRI ACTION18 Conference, Washington, D.C. (May 9, 2018)
• "Regulatory Update on Key Broker-Dealer Issues," Client Focus Forum, Baltimore, MD (October, 2016).
• "Effective Social Media and Advertising Strategies," IRI Government, Legal & Regulatory Conference (2012)
• "General Counsels with Broker-Dealer Affiliations: Are You the Gatekeeper/Supervisor for Securities Activities?," ACLI Compliance & Legal Sections Annual Meeting (2012)
• "The Securities Status of Fixed Annuities and Other Products in the Aftermath of the Harkin Amendment and the Withdrawal of Rule 151," ALIC Annual Meeting (2011)
• "Advertising Compliance at FINRA and in the States," IRI Government, Legal & Regulatory Conference (2011)
• "Distribution and Advertising Developments," ALI-ABA Conference on Life Insurance Company Products (2010)
• "Variable Insurance Product Advertising Issues," PLI Understanding the Securities Products of Insurance Companies (2005)
• NAVA Compliance and Regulatory Affairs Conference
  • Senior Investors (2008)
  • Suitability (2007)
  • Regulation of Indexed Annuities (2006)
  • ASD Regulatory and Enforcement Update (2005)
  • Managing the Compliance Risks of Offshore Outsourcing (2004)
  • Hot Button Issues for Regulatory Examinations (2003)
  • Developing an Effective Anti-Money Laundering Compliance Program (2002)
  • Optional Federal Chartering for Life Insurance Companies (2001)
  • Developing a Privacy Compliance Program after Gramm-Leach-Bliley (2000)
  • Electronic Commerce in Insurance Product Sales and Distribution (2000)