Mona Bhalla

Partner,

New York

Phone: +1 212 905 9029
Email: mona.bhalla@alston.com

Drawing on her experience as deputy superintendent for the Life Bureau at the NYDFS, Mona understands the perspective of the regulator, which when combined with her more than 27 years of private sector experience, allows her to act as a strategic adviser, regulatory advocate, and thought leader for global, national, and regional re/insurance companies.

Regulatory Experience

Supervised and regulated the entire life insurance industry in New York State, primarily through the establishment of standards for financial solvency, market conduct, and corporate oversight; the promulgation of regulations; and the monitoring of compliance by over 630 regulated entities.
Provided the superintendent and executive deputy superintendent of NYDFS with advice on issues pertaining to the life insurance industry and the regulatory process.
Advised the life insurance industry on a variety of matters, including M&A and other strategic transactions, disclaimers of control/affiliations, reinsurance arrangements and the use of reciprocal jurisdiction reinsurer and certified reinsurer licensure, formation and licensure of insurance companies, use of accelerated underwriting, artificial intelligence and machine learning, and proposed and pending legislation.
Responsible for the promulgation of several circular letters and regulations intended to enhance consumer protections within New York State.
Represented the NYDFS in meetings and conferences with insurers, representatives of industry organizations, NAIC, other governmental agencies, and the public.

Mergers, Acquisitions & Other Strategic Transactions

Represented a Canadian insurer in its demutualization to a stock insurance company, including the structuring of the reorganization and the drafting of the demutualization plan.
Responsible for all domestic and offshore business transactions for two publicly traded financial services companies, including acquisitions of insurance companies and asset management firms, the purchase and subsequent sale of oil and gas assets, and the lift-out of several portfolio management teams. Coordinated all related integration efforts, including obtaining all required insurance, Securities and Exchange Commission (SEC), and bank regulatory approvals.
Advised a publicly traded asset management company on its private equity and venture capital fund formation and underlying investments.

Corporate Governance Experience

Served as the corporate secretary for both a publicly traded asset management company and a New York domiciled stock life insurer with five separate boards.
Oversaw ongoing continuous improvement efforts for a New York domiciled stock life insurer, including coordinating and spearheading efforts to enhance processes and procedures related to overall service delivery model, and providing advice to three parent boards.
Led an enterprise governance initiative while supervising the maintenance of more than 6,000 domestic and international subsidiaries, including the creation of a centralized database containing policies and procedures necessary to comply with regulatory requirements, such as those promulgated by the NYDFS, SEC, and Federal Reserve Bank.
Prepared all board and committee meeting materials and proactively advised executive management and the board on all corporate governance matters for a publicly traded asset management company and a New York domiciled stock life insurer with five separate boards.
Designed and implemented Sarbanes–Oxley compliance programs and served as the primary resource on the Sarbanes–Oxley Act and corporate governance for two publicly traded financial services firms.

Financial Services Experience

Prepared and filed all SEC periodic reports, including Forms 10-Q, 10-K, and 8-K, and reports for Sarbanes–Oxley and NYSE compliance and counseled executive management at two publicly traded financial services firms on all proposed, pending, and enacted federal securities legislation.
Advised underwriters and issuers in all aspects of public offerings of common stock, trust preferred stock, and debt securities, as well as municipal bond offerings. Represented foreign and domestic issuers in private offerings under Rule 144A of the Securities Act of 1933.
Directed all aspects of the day-to-day operation of four mutual fund families, including the preparing of all required SEC and Investment Company Act filings needed for the annual update process, the creation of new funds, and the merger of existing funds; preparing all board materials; overseeing and reviewing sub-advisers and compliance-related matters; and reviewing sales and marketing materials.
Counseled, negotiated, and drafted all credit agreements, guarantees, and commercial paper documentation.
Advised on matters related to FINRA compliance and insurance regulatory law, the Investment Company Act of 1940, and the Investment Advisers Act of 1940.
Drafted and negotiated prospectuses, underwriting agreements, trust indentures, offering memoranda, and other documents related to public, private, and municipal bond offerings; created form underwriting agreements for use in underwritten public offerings.
Developed the IP strategy for a publicly traded asset management company and actively counseled all its business areas on such issues as they impacted the financial services industry.

Mona Bhalla

Regulatory Experience

Mergers, Acquisitions & Other Strategic Transactions

Corporate Governance Experience

Financial Services Experience

Bar Admissions

Education

Memberships