2016 Archives - MB Schoen & Associates

January 2016

ACCOUNTING DEVELOPMENTS
- FASB Proposed Accounting Standards Update – Classification of Certain Receipts and Cash Payments
REGULATORY DEVELOPMENTS
- Regulators Release 2016 CCAR and DFAST Scenarios
- Basel Committee Releases Revised Market Risk Framework
LEGISLATIVE DEVELOPMENTS
- NY COLI Franchise Tax Bills
OTHER DEVELOPMENTS
- Senate Finance Committee Hearing on Helping Americans Plan for Retirement

LEGISLATIVE DEVELOPMENTS
- Obama Administration’s 2017 Fiscal Year Budget Proposal
JUDICIAL DEVELOPMENTS
- Transamerica’s Third-Party Complaint Against JPMorgan Dismissed for Lack of Jurisdiction
- Bancorp Services v. American General – Update
OTHER DEVELOPMENTS
- Consumer Federation of America Encourages Insurance Regulators to Block COI Rate Increases

TAX DEVELOPMENTS
- Tax Court Ruling with Implications for Split Dollar Arrangements
REGULATORY DEVELOPMENTS
- Federal Reserve Re-Proposes Single-Counterparty Credit Limits
JUDICIAL DEVELOPMENTS
- Transamerica Class Action Complaint Relating to COI Rate Increases
ACCOUNTING DEVELOPMENTS
- FASB Proposed Accounting Standards Update – Comments re BOLI Cash Flows
OTHER DEVELOPMENTS
- NAIC Cybersecurity Model Laws Proposal
- JCT Revenue Estimates of Obama Budget Proposal
- Florida Bill Requires Insurance Companies to Search DMF
- MetLife’s SIFI Designation Overturned
- FINRA Target Exam Letter on FIRM Cultures

TAX DEVELOPMENTS
- Alternative Diversification Requirements for Government Money Market Funds under Section 817(H)
JUDICIAL DEVELOPMENTS
- Transamerica COI Rate Increase Litigation Update
REGULATORY DEVELOPMENTS
- Regulators Propose Revised Rule on Incentive-Based Compensation Arrangements
- Net Stable Funding Ratio Proposed Rule
- FRB Proposes Conceptual Framework for Insurance Capital Standards
OTHER DEVELOPMENTS
- DMF Certification Process – Final Rule Issued
- Senate Committee on Finance Holds Hearing on the Tax Treatment of Corporate Debt and Equity

REGULATORY DEVELOPMENTS
- IRS Proposes Regulations Clarifying Section 409A Regulations
OTHER DEVELOPMENTS
- NAIC Adopts Principle-Based Reserving

REGULATORY DEVELOPMENTS
- Volcker Rule, Extension of Conformance Period
JUDICIAL DEVELOPMENTS
- Bancorp Services v. American General – Update
- BB&T v. MassMutual – Update
- Transamerica COI Rate Increase Litigation – Update
ACCOUNTING DEVELOPMENTS
- FASB Proposed Accounting Standards Update – Income Tax Disclosures
OTHER DEVELOPMENTS
- Basel Revisions to Securitization Framework
- New York DFS Announces It Will Adopt Principle-Based Reserving
- DOL, IRS, and Pension Benefit Guaranty Corporation Propose Form 5500 Changes

ACCOUNTING DEVELOPMENTS
- Final Accounting Standard for Certain Cash Receipts and Payments
OTHER DEVELOPMENTS
- FHFA Single Security Initiative
- NAIC Launches Life Insurance Policy Locator Application

REGULATORY DEVELOPMENTS
- Banking Regulators Report to Congress on Investment Activities of Regulated Financial Institutions
- OCC Releases Bank Supervision Operating Plan for Fiscal Year 2017
- Federal Reserve Board Proposed Rule to Modify CCAR Requirements for Large, Noncomplex Firms
JUDICIAL DEVELOPMENTS
- Transamerica COI Litigation Update

TAX DEVELOPMENTS
- IRS Guidance Concerning Use of 2017 CSO Tables under Section 7702
ACCOUNTING DEVELOPMENTS
- FASB Proposed Accounting Standards Update – Targeted Improvements to the Accounting for Long-Duration Contracts
JUDICIAL DEVELOPMENTS
- Florida Supreme Court Upholds STOLI Subsequent to Expiration of Contestability Period
OTHER DEVELOPMENTS
- Society of Actuaries (SOA) Releases New Mortality Projection Scales for Pension Plans

TAX DEVELOPMENTS
- Increased Potential for Tax Reform
REGULATORY DEVELOPMENTS
- Potential for Dodd-Frank Repeal by Trump Administration
OTHER DEVELOPMENTS
- NY DFS Regulation on Non-Guaranteed Elements of Life Insurance Policies
- Death Master File Access Requires Certification of Cybersecurity
- CFPB Incentive Compensation Expectations Guidance
- NAIC Life Insurance Policy Locator

REGULATORY DEVELOPMENTS
- IRS Private Letter Rulings that Business Trust Portfolio Composed of Underlying Funds Satisfies Investor Control Rules
JUDICIAL DEVELOPMENTS
- FNB PA vs. Transamerica and Clark Consulting – Update
OTHER DEVELOPMENTS
- NAIC Fall National Meeting