2020 Archives - MB Schoen & Associates

January 2020

REGULATORY DEVELOPMENT
- Agencies Propose Changes to Modify Volcker Rule “Covered Funds” Restrictions

TAX DEVELOPMENTS
- IRS Revenue Ruling 2020-05 – Adjustments to Basis
- Trump Administration Budget Proposal for FY 2021
- House Ways & Means Committee Hearing – The Disappearing Corporate Income Tax
JUDICIAL DEVELOPMENTS
- Transamerica COI Litigation Update
- Athene vs. American General, et al. – COLI SVP Product Dispute

LEGISLATIVE DEVELOPMENTS
- COVID-19 Legislation
REGULATORY DEVELOPMENTS
- Federal Reserve Board Issues Final Rule Establishing Stress Capital Buffer Requirement Intended to Simplify Capital Framework

TAX DEVELOPMENTS
- IRS Private Letter Ruling on Policyholder Implications of Assumption Reinsurance Transaction
OTHER DEVELOPMENTS
- Athene to Pay $45 Million to NY for Unlicensed Pension Risk Transfer Business

JUDICIAL DEVELOPMENTS
- Athene vs. American General, et al. – COLI SVP Product Dispute
- COI Litigation Update – Proposed Settlement in Thompson vs. Transamerica

JUDICIAL DEVELOPMENTS
- COI Litigation Update – Vogt v. State Farm Jury Verdict Upheld upon Appeal
REGULATORY DEVELOPMENTS
- American General Settlement with Massachusetts re Death Claim Interest
- Financial Regulators Finalize Changes to Volcker Rule
- California Consumer Privacy Act (CCPA) – Proposed Regulations Package Submitted to Office of Administrative Law
OTHER DEVELOPMENTS
- Effects of Experience Rating on COLI/BOLI Programs – Publication
- NAIC Releases Update on State Insurance Regulatory Response to COVID-19

JUDICIAL DEVELOPMENTS
- Athene v. American General, et al. – SVP Litigation Update
TAX DEVELOPMENTS
- IRS Proposed Regulations on Tax-Exempt Organization Excess Executive Compensation

ACCOUNTING DEVELOPMENTS
- OCC Bank Accounting Advisory Series Updated
OTHER DEVELOPMENTS
- Managing Mortality Costs within COLI/BOLI Programs – Publication
- BIS Revisions to the Principles for the Sound Management of Operational Risk

JUDICIAL DEVELOPMENTS
- Andresen v. Guggenheim Partners – COLI Commissions Litigation
REGULATORY DEVELOPMENTS
- Banking Regulators Finalize Corrections to the SA-CCR
LEGISLATIVE DEVELOPMENTS
- California Consumer Privacy Act (CCPA) – Extension of Temporary Exemption for Employee Data

REGULATORY DEVELOPMENTS
- Banking Regulators Release Final Rule for TLAC Holdings of Advanced Approaches Banks
TAX DEVELOPMENTS
- IRS Private Letter Ruling Regarding Investor Control Doctrine
LEGISLATIVE DEVELOPMENTS
- SAFE DATA Act Introduced in the Senate
- New Jersey Enacts Law Prohibiting STOLI

LEGISLATIVE DEVELOPMENTS
- California Privacy Rights Act of 2020 Approved by Voters
REGULATORY DEVELOPMENTS
- Banking Regulators Issue Statement on LIBOR Transition
- Banking Regulators Publish Sound Practices to Strengthen Operational Resilience