Keanotes: Unclaimed Property News, Laws and Trends
Escheat laws by state can be difficult to keep track of, as no two states interpret unclaimed property in the same way. State escheatment laws can differ based on a variety of factors, including property type, dormancy period, and compliance requirements, among other factors.
Keanotes®, our industry leading compliance newsletter, eases the burden of tracking the various escheat laws by state by providing an in-depth view and analysis of unclaimed property regulations and state escheatment laws. Keanotes also includes editorial coverage of ongoing legislation changes, legislative summaries of escheat rules by state, guest columnists from state and industry professionals, Q&A sessions, continuous interpretation and recommendations to effectively comply with unclaimed property laws while increasing your company’s bottom line.
Click on the button below to register for Keanotes®. You’ll receive a notification when new issues of Keanotes are published and real-time alerts for changes in escheat laws by state.
Contents of Latest Issue
Keane Unclaimed Property Compliance Team
Spring 2013 – For the Period 9/1/2012 – 12/31/2012 Legislative Update Key Introduced Used for Legislation Passed Used for Legislation Proposed Used for Regulations Adopted Used for Regulations Prefiled Drafted bills and resolutions to be numbered, printed, made available for public review, and scheduled for hearing before the actual start of session. CALIFORNIA 21419 2012 … [ read more ... ]
By Maureen Ferrari, Vice President of Operations
The month of October is always a busy one for the Keane unclaimed property reporting group, as the lion’s share of states have a fall reporting deadline. This year was no exception, as the members of Keane’s unclaimed property reporting group put in countless hours and worked around the clock to ensure that each and … [ read more ... ]
By Cornel Lupu, Manager in Keane’s Consulting and Advisory Group and Barbara Blick, Vice President
Over the past 4 years, a flurry of multi-state unclaimed property audits has been initiated within the insurance industry. The impact of these audits came to light on May 17, 2011, when John Hancock Life Insurance Company (John Hancock) entered into a settlement agreement with the state of Florida’s Office of the Attorney General, Office … [ read more ... ]
By Maureen Ferrari, Vice President, Unclaimed Property and Pam Wentz, Director, Consulting and Advisory Group
Filing unclaimed property reports can be a daunting task. There are multiple jurisdictions, different holding periods and various reporting deadlines to consider. Filing reciprocal unclaimed property reports can appear to be a great option for reducing the reporting burden; however, we recommend that companies be extremely cautious when considering this option. What is Reciprocal Unclaimed … [ read more ... ]
By the Honorable Jeffrey W. Bullock, Delaware’s Secretary of State
On July 11, 2012, Governor Jack Markell signed into law Senate Bill 258, which created a new abandoned and unclaimed property voluntary disclosure program (the “VDA Program”) in Delaware. The new unclaimed property voluntary compliance program will be administered through the Delaware Department of State, and offers Delaware registered business entities a unique, but narrow-window … [ read more ... ]
An Update on SEC Rule 17Ad-17 Revisions, Contact as a Dormancy Trigger and the Rise of and Preparedness for Audits in the Broker Dealer Arena
By Debbie Zumoff, Chief Compliance Officer, Val Jundt, Managing Director, Consulting & Advisory Group, and Mike Ryan, Senior Vice President
Derived from the Live Keane Webinar presented on September 27, 2012 In July of 2010, Congress issued the Dodd Frank mandate which included, among many other things, a directive to the Securities and Exchange Commission to expand the scope of SEC Rule 17Ad-17. First, the existing requirements of SEC Rule 17Ad-17, currently impacting the transfer … [ read more ... ]