With two CAS actuaries convicted of violating securities and criminal laws, it is important to review our legal obligations to the public. This presentation relays the case against five AIG and Gen Re insurance professionals, focusing on the accounting of reinsurance contracts. The facts of the case will be reviewed and the audience walked through the relevant securities and criminal laws. It is an eye-opening presentation that will educate actuaries on how important documentation is, how important it is to be conscious and precise in communications, and other pertinent professional considerations.