Brokerage, Unclaimed Property Audit
Unclaimed Property Settlement Reached After Multi-State Audit In late December 2014, Morgan Stanley and its affiliated companies became the first brokerage firm undergoing a multi-state unclaimed property audit to agree to the use of the Social Security Administration’s Death Master File (“DMF”) or state vital statistics records to identify deceased account owners as a means […]
During the first week of 2015 , it was announced that Allianz Life Insurance Company of North America and Allianz Life Insurance Co. of New York have agreed to a $4.7 million dollar penalty and to making specific reforms. These reforms include utilizing the Social Security Administration’s death master file (DMF) to identify deceased life […]
Compliance, Public Corporations
Delaware has increased their unclaimed property audit activity as the VDA deadline has expired, and one company is challenging its auditor’s estimation methods. Read more in our Delaware unclaimed property update.
Legislative Updates, Unclaimed Property Reporting
HB 4703 seeks to amend the Uniform Unclaimed Property Act to provide a process for a holder to appeal a determination that it under-reported unclaimed or abandoned property.
Compliance, Public Corporations, Unclaimed Property Reporting
Through the acquisition, Keane further strengthens its position as the industry leader, providing unclaimed property services to more than 2,000 public corporations, banks, broker-dealers, mutual funds, insurance carriers, and transfer agents.
