2013 Archives - MB Schoen & Associates

January 2013

REGULATORY DEVELOPMENTS
- IAIS Global Systemically Important Insurer (G-SII) Designations Coming Soon
- FSOC Extends Comment Period for MMFs Reform Proposals
- SEC Chairman Nominated
ACCOUNTING DEVELOPMENTS
- FASB Accounting Proposal for Repurchase Agreements
JUDICIAL DEVELOPMENTS
- Baker v. American Greetings
OTHER DEVELOPMENTS
- NAIC Names New CEO

REGULATORY DEVELOPMENTS
- Dodd-Frank Implementation Hearing
LEGISLATIVE DEVELOPMENTS
- U.S. Senate Bill 173 – Flat Tax Proposal
- U.S. House Bill 613 – Capital Adequacy for Large Bank Holding Companies
- NY COLI Franchise Tax Bills
JUDICIAL DEVELOPMENTS
- Cost of Insurance Litigation

LEGISLATIVE DEVELOPMENTS
- Federal Budget Proposals
- Insurance Industry Lobbying Efforts
- Too-Big-To-Fail Legislation
- Oregon H.B. 3367
REGULATORY DEVELOPMENTS
- Dodd-Frank Stress Test Reporting Requirements ($10 Billion – $50 Billion)
JUDICIAL DEVELOPMENTS
- Hunnicutt v Stauffer Management – Dismissed
ACCOUNTING DEVELOPMENTS
- FASB Extends Comment Deadline on Proposal for Accounting for Credit Losses on Financial Assets
OTHER DEVELOPMENTS
- NAIC 2013 Committee Charges

LEGISLATIVE DEVELOPMENTS
- Obama Budget Proposal and Treasury Greenbook
- Basel III Capital Impact Studies
- Too-Big-To-Fail Legislation
- S. 676 – Proposal to Restrict Access to Death Master File
JUDICIAL DEVELOPMENTS
- Baker v. American Greetings
REGULATORY DEVELOPMENTS
- FRB Final Rule re Nonbank Financial Companies
- Basel III Capital: A Well-Intended Illusion
- NY DFS Scrutinized Private Equity Acquisition of Insurance Companies

LEGISLATIVE DEVELOPMENTS
- H.R. 1618 – Bill to Increase Employer-Provided Group Term Life Benefit Exclusion
- H.R. 2140 – Insurance Capital and Accounting Standards Act of 2013
- Basel Capital Studies – Legislative Update
- Tax Reform Options – Senate Finance Committee
- Tax Reform Report – House Ways and Means Committee
REGULATORY DEVELOPMENTS
- FSOC 2013 Annual Report and Testimony
- Market Risk Capital Rule Clarifications
- FRB Mid-Year Stress Tests
JUDICIAL DEVELOPMENTS
- Baker v. American Greetings Corp. (Settlement Update)
ACCOUNTING DEVELOPMENTS
- FASB Exposure Draft – Credit Losses (Suptopic 825-15)
OTHER DEVELOPMENTS
- JCT Estimated Budget Effects of President’s Fiscal Year 2014 Budget Proposal
AD HOC LRA – MAY 13, 2013
- Financial Institution Letter (Revised): Banker Teleconference on FASB Proposal to Change the Accounting for Credit Losses

LEGISLATIVE DEVELOPMENTS
- Senate Finance Committee – Tax Reform Update
- Oregon H.B. 3367 – Status Update
REGULATORY DEVELOPMENTS
- Capital Rules – Update
- NAIC Review of Non-Variable, Insulated Products
- FSOC Non-Bank SIFI Designations
OTHER DEVELOPMENTS
- SEC Money Market Reform Proposals
- Hartford Life Developments
- Texas H.B. 2383 – Life Settlements approved for Medicaid Long-Term Care

LEGISLATIVE DEVELOPMENTS
- S. 1282 – 21st Century Glass-Steagall Act
- Oregon H.B. 3367
REGULATORY DEVELOPMENTS
- Final Regulatory Capital Rules Released
- Volcker Rule Update
- Dodd-Frank Act Stress Test Guidance for Medium-Sized Firms
JUDICIAL DEVELOPMENTS
- Employer Sued for Incorrect Death Benefit Payments under Group Life Insurance Plan
ACCOUNTING DEVELOPMENTS
- FASB Proposal for Accounting for Credit Losses on Financial Assets
OTHER DEVELOPMENTS
- Private Equity Acquisition of Annuity Underwriters – Regulatory Concerns
AD HOC LRA – July 2, 2013
- Final Capital Rules Approved by OCC and FRB
AD HOC LRA – July 10, 2013
- FDIC Interim Final Capital Rules and Leverage Ratio NPR

REGULATORY DEVELOPMENTS
- FFIEC Proposed Revisions to Call Reports
JUDICIAL DEVELOPMENTS
- Cost of Insurance Litigation Update
- Feinfold v. John Hancock – Death Benefit Payment Practice
OTHER DEVELOPMENTS
- NAIC Private Equity Issues Working Group

REGULATORY DEVELOPMENTS
- FRB Clarifications Regarding Basel III and Capital Plans and Stress Testing
- IRS Priority Guidance Plan
- FSOC Final Designation of Prudential as a Non-Bank SIFI
JUDICIAL DEVELOPMENTS
- Baker v. American Greetings – Settlement Approved
- Mai Thao v. Midland National Life Insurance
OTHER DEVELOPMENTS
- NAIC Summer National Meeting

LEGISLATIVE DEVELOPMENTS
- Senate Finance Committee Proposal to Reform Certain Business Provisions
REGULATORY DEVELOPMENTS
- OCC Risk Management Guidance for Third-Party Relationships
- OCC Releases Dodd-Frank Stress Testing Scenarios and Proposed Changes to Dodd-Frank Annual Stress Test Reporting
- BOLI-Related Implementation Questions for Basel III
JUDICIAL DEVELOPMENTS
- Cost of Insurance Litigation – Conseco Class Action
OTHER DEVELOPMENTS
- NAIC Separate Account Risk Working Group – Update
- SEC Releases Study to Congress on Credit Rating Agency Independence

REGULATORY AND TAX DEVELOPMENTS
- IRS PLR 2013510020 – Loss Recognition on BOLI Surrender
- FRB Guidance on Managing Outsourcing Risk
JUDICIAL DEVELOPMENTS
- COI Litigation Update – Norem v. Lincoln Benefit Life and Thao v. Midland National
- Simmons v. Bristol-Myers – New COLI Litigation
OTHER DEVELOPMENTS
- Bipartisan Budget Act of 2013 – Restricting Access to SSA DMF
- NAIC to Consider Developing Guidelines for Handling of Unclaimed Death Benefits
- FDIC Publication Focuses on Need for Effective Interest-Rate Risk Management
- Federal Insurance Office Issues Report on Modernization, Improvement of Insurance Regulation
AD HOC LRA – DECEMBER 11, 2013
- Agencies Issue Final Rules Implementing the Volcker Rule