2011 Archives - MB Schoen & Associates

January 2011

REGULATORY DEVELOPMENTS
- FSOC Volcker Rule Study
- Basel III and Dodd-Frank Act
OTHER DEVELOPMENTS
- SEC Recommends Uniform Fiduciary Standard
- Obama Calls for Lower Corporate Tax Rate
- Financial Crisis Inquiry Commission Final Report
AD HOC LRA – JANUARY 20, 2011
- Volcker Rule Study

REGULATORY DEVELOPMENTS
- Federal Reserve Board Approves Final Rules on Volcker Conformance Periods
- Federal Reserve Board Proposes Rule for Systemically Important Definitions
- Proposed Interagency Rule on Incentive-Based Compensation
- Dodd-Frank Progress Hearing
- Proposed Revisions to the Market Risk Capital Rule
ACCOUNTING DEVELOPMENTS
- FASB and IASB on Insurance Contracts
- FASB and IASB on Accounting for Derivatives and Hedge Activities
LEGISLATIVE DEVELOPMENTS
- Hawaii Tax Bills
JUDICIAL DEVELOPMENTS
- Atkinson v. Wal-Mart Stores (Update)
- Collier v. American Greetings (Update)
OTHER DEVELOPMENTS
- Call Report Revisions Approved
- Obama Administration Proposed 2012 Budget Released
- NAIC Working Group on Dodd-Frank Receivership
AD HOC LRA – FEBRUARY 15, 2011
- Final Revisions to the Call Report Approved
- 2012 Budget Proposal Released

REGULATORY DEVELOPMENTS
- FDIC NPR Implementing Certain Liquidation Authority Provisions of Dodd-Frank
- Joint Proposed Rule on Resolution Plans and Credit Exposure Reports for Systemic Entities
- Joint Proposed Rule on Incentive Compensation
- New Federal Insurance Office Director Appointed
TAX DEVELOPMENTS
- IRS Ruling on § 1035 Exchanges
ACCOUNTING DEVELOPMENTS
- FASB and IASB Convergence Projects Update
LEGISLATIVE DEVELOPMENTS
- Amendments to Dodd-Frank Introduced in the House
JUDICIAL DEVELOPMENTS
- Atkinson v. Wal-Mart Stores (Update)
- BB&T v. Pacific Life Insurance Company (Update)
- Jones v. Bridgestone Americas (Update)
OTHER DEVELOPMENTS
- NAIC Observations on Separate Account Products
- SEC Delaying Implementation of Broker-Dealer Fiduciary Standard
AD HOC LRA – MARCH 4, 2011
- IRS Revenue Ruling on Certain § 1035 Exchanges

REGULATORY DEVELOPMENTS
- New Guidance on Model Risk Management
- SEC Proposes Product Definitions for Swaps
- SEC Roundtable on Money Market Fund Reform
- Attacks Continue on the Dodd-Frank Regulatory Regime
JUDICIAL DEVELOPMENTS
- Collier v. American Greetings (Update)
- Hunnicutt v. Akzo Noble, AstraZeneca (Update)
OTHER DEVELOPMENTS
- NAIC Observations on IRC Section 1035 Exchanges
- CMBS Assessments Produce Little Impact on Insurer Capital Requirements
- Report on Long-Term Investments after the Financial Crisis

REGULATORY DEVELOPMENTS
- New Federal Advisory Committee on Insurance
- SEC Proposes Regulations on NRSROs
- OCC Proposes Rule to Implement Provisions of Dodd-Frank
- Senate Hearing on Dodd-Frank Implementation
LEGISLATIVE DEVELOPMENTS
- Louisiana H.B. 386
JUDICIAL DEVELOPMENTS
- BB&T v. MassMutual, Clark Consulting (Update)
OTHER DEVELOPMENTS
- Regulators to Review Life Insurers Payment Practices

REGULATORY DEVELOPMENTS
- Agencies Adopt Final Rule to Establish Risk-Based Capital Floor
- Newly Proposed Bank Stress Testing Guidance
- Pre-proposal Industry Comments on Volcker Rule
- White House Announces FSOC Insurance Member Nominee
- Obama Announces FDIC Chairman Nominee
- House Hearings on Dodd-Frank Implementation
JUDICIAL DEVELOPMENTS
- BB&T v. MassMutual (Update)
- Collier v. American Greetings (Update)
- Hunnicutt v. AstraZeneca (Update)
OTHER DEVELOPMENTS
- Merged Accounting Standards May Prove Costly for Insurers
- New International Insurance Supervisory Forum

REGULATORY DEVELOPMENTS
- Senate Hearing on 1st Anniversary of the Dodd-Frank Act
- House Hearing on the Use of Credit Ratings Post Dodd-Frank
- Insurance Oversight Hearing
- FSOC Annual Report
- Final OTS Integration into the OCC
JUDICIAL DEVELOPMENTS
- Atkinson v. Wal-Mart Stores (Update)
- Collier v. American Greetings (Update)
OTHER DEVELOPMENTS
- IRS Modifies Guidance on Partial Exchanges of Annuity Contracts
- NY Ins Dept Directs Insurers to Use DMF to Pay Unpaid Death Benefits

REGULATORY DEVELOPMENTS
- SEC and CFTC Request Comments on Stable Value Contracts
- Credit Rating Developments
JUDICIAL DEVELOPMENTS
- Collier v. American Greetings (Update)
- Hunnicutt v. AstraZeneca (Update)
OTHER DEVELOPMENTS
- NAIC Takes Model Bill Covering Insurable Interest and § 1035 Exchanges under Advisement

TAXDEVELOPMENTS
- Debt Reduction Plan Includes Insurance-Related Tax Reforms
REGULATORY DEVELOPMENTS
- Volcker Rule Delay Inevitable
- Industry Comments on Stable Value Contracts
- FSOC Insurance Expert Confirmed
- FDIC Adopts Final Rule on Resolution Plans under Dodd-Frank
JUDICIAL DEVELOPMENTS
- Life Settlement Lawsuits
OTHER DEVELOPMENTS
- NAIC Continues to Evaluate Hybrid Insurance Products
- NAIC Fund Demand Disclosure for Institutional Business
- SEC Sends “Wells Notice” to S&P over CDO Ratings
- Trade Associations File Appeal of NY Compensation Disclosure Rules
- The New NY State Department of Financial Services

REGULATORY DEVELOPMENTS
- Proposed Volcker Rule Regulations Released
- FSOC Proposes Three-Part Test to Identify Non-Bank SIFIs
- Federal Insurance Office Study
- Federal Reserve Approves Resolution Plans Under Dodd-Frank
OTHER DEVELOPMENTS
- NAIC Fund Demand Disclosure for Institutional Business
- MetLife Seeks to End Its Supervision by the Federal Reserve

REGULATORY DEVELOPMENTS
- OCC Proposes Rule to Remove References to Credit Ratings
TAX DEVELOPMENTS
- No Deficit Reduction Plan at this Time
JUDICIAL DEVELOPMENTS
- American Greetings (Update)

REGULATORY DEVELOPMENTS
- Federal Agencies Extend Comment Period on Volcker Rule Proposal
- Federal Reserve Proposal to Implement Enhanced Prudential Standards
- Industry Comments on FSOC’s Nonbank SIFI Proposal
- Proposed Changes to Market Risk Capital Rules
- Federal Insurance Office Developments
TAX DEVELOPMENTS
- Private Letter Ruling 2011-52014 (Application of 264(f))
LEGISLATIVE DEVELOPMENTS
- H.R. 3559 – Insurance Data Protection Act
JUDICIAL DEVELOPMENTS
- Atkinson v. Wal-Mart Stores (Update)
OTHER DEVELOPMENTS
- NY DMF Requirements Result in $52.6 Million for Beneficiaries
- Sun Life Exiting Variable Annuity, Individual Life and COLI Business
- MetLife to Sell MetLife Bank to GE Capital
AD HOC LRA – DECEMBER 8, 2011
- Notice of Proposed Rulemaking – Alternatives to Credit Ratings for Debt and Securitization Positions