Keane's Unclaimed Property Blog

8 Unclaimed Property Concerns for the Brokerage Industry

8 Unclaimed Property Concerns for the Brokerage Industry

Brokerage, Unclaimed Property Reporting

Unclaimed property compliance for broker dealers and the financial services community can often be an overlooked area of compliance. In addition to Federal regulations such as SEC Rule 17Ad-17, maintaining compliance with 55 unique sets of escheat law is critical to protecting investor accounts and valuable client relationships. In this post, we have outlined 8 pressing unclaimed property concerns facing the brokerage industry.

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New York Voluntary Compliance Program Revised

New York Voluntary Compliance Program Revised

Compliance

New York has revised its voluntary compliance program for past-due general ledger property. Eligible holders that enroll can benefit from a reduced reach-back period of 10 years, previously 20 years. Holders electing not to participate in the program are required to use the audit reach-back start date of January 1, 1992.

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