2019 Archives - MB Schoen & Associates

January 2019

ACCOUNTING DEVELOPMENTS
- Whitepaper on BOLI SVP Accounting Implications
REGULATORY DEVELOPMENTS
- Basel Committee Finalizes Market Risk Capital Framework
JUDICIAL DEVELOPMENTS
- COI Litigation Update – John Hancock Proposed Class Action Settlement
OTHER DEVELOPMENTS
- California Consumer Privacy Act – Update
- MetLife Regulatory Settlements with New York and Massachusetts re Pension Benefits and Assumed Variable Annuity Guarantee Reserves

JUDICIAL DEVELOPMENTS
- Athene vs. American General, et al. – COLI SVP Product Dispute
- COI Litigation Update – John Hancock Proposed Class Action Settlement
- COI Litigation Update – Feller vs. Transamerica
REGULATORY DEVELOPMENTS
- Clarification Requested from IRS on Guidance concerning Uniform Mortgage-Backed Securities for Purposes of IRC § 817(h)
OTHER DEVELOPMENTS
- NYDFS Consumer Alert Regarding Universal Life Insurance Policies
- NTIS Death Data Improvement Project – Update
- Insurance Industry Statement Regarding Fiduciary Standard

TAX DEVELOPMENTS
- IRS Releases Proposed Regulations on New Reporting Requirements for Certain Life Insurance Contract Transactions
OTHER DEVELOPMENTS
- FFIEC Finalizes Revisions to Call Reports Relating to Changes in Accounting for Credit Losses
- NTIS Death Data Improvement Project – Update

JUDICIAL DEVELOPMENTS
- COI Litigation Update – John Hancock Settlement Approved
OTHER DEVELOPMENTS
- California Consumer Privacy Act (CCPA) – Rulemaking Update
- NTIS Death Data Improvement Project – Update

TAX DEVELOPMENTS
- Comments Submitted to IRS Regarding Proposed Regulations for Certain Life Insurance Contract Transactions
- Congressional Research Service Report on the Economic Effects of the 2017 Tax Revision
OTHER DEVELOPMENTS
- NAIC Deliberations on Index Universal Life (IUL) Illustration Requirements

REGULATORY DEVELOPMENTS
- LIBOR Reference Rate Reform – Update
- Regulatory Agencies Issue Final Rule Providing Reduced Reporting Requirements for Call Reports
- Regulatory Agencies Issue Final Rule to Simplify Regulatory Capital Rules
ACCOUNTING DEVELOPMENTS
- FASB Project to Consider the Effective Dates of Recent Amendments to Insurance Accounting
OTHER DEVELOPMENTS
- NAIC ICOLI Data Disclosure Adopted
- Uniform Mortgage-Backed Securities Issued by Fannie Mae, Freddie Mac

REGULATORY DEVELOPMENTS
- Regulators Approve Volcker Rule Revisions
JUDICIAL DEVELOPMENTS
- Athene vs. American General, et al. (COLI SVP Product Dispute) – Update
OTHER DEVELOPMENTS
- North Carolina Enacts Law to Limit Insurers’ Investments in Affiliates
- NY Supreme Court Upholds “Best Interest” Standard Adopted by NYDFS

LEGISLATIVE DEVELOPMENTS
- California Consumer Privacy Act – Amendment Passed
JUDICIAL DEVELOPMENTS
- Athene vs. American General, et al. (COLI SVP Product Dispute) – Update
REGULATORY DEVELOPMENTS
- FDIC Finalizes Capital Rule for Qualifying Community Banking Organizations

TAX DEVELOPMENTS
- IRS Releases Final Regulations for Certain Life Insurance Contract Transactions and Modifications to the Transfer for Valuable Consideration Rules
LEGISLATIVE DEVELOPMENTS
- California Consumer Privacy Act – Notice of Proposed Rulemaking
REGULATORY DEVELOPMENTS
- Agencies Finalize Changes to Simplify Volcker Rule
- Banking Regulators Finalize Changes to Company-Run Stress Testing Rules

ACCOUNTING DEVELOPMENTS
- Stable Value Protection Whitepaper
REGULATORY DEVELOPMENTS
- Banking Regulators Finalize Rule to Update Calculation of Counterparty Credit Risk for Derivative Contracts
LEGISLATIVE DEVELOPMENTS
- Federal Privacy Legislation Introduced
JUDICIAL DEVELOPMENTS
- Supreme Court of California Rules in Favor of Northwestern Mutual in Matter Relating to Policy Loan Interest Charges
TAX DEVELOPMENTS
- IRS Private Letter Rulings for Fee-Based Non-Qualified Deferred Annuities