Members of Alston & Bird’s Unclaimed Property practice group will discuss critical legal issues such as ambiguities, risks, and defenses to regulatory and enforcement challenges. They will join representatives of Ernst & Young LLP’s Unclaimed Property and Escheat Services practice to address the current landscape, applicable for all subsectors of financial services in this complimentary webinar.
Financial services organizations (FSOs) face highly complex unclaimed property (UP) matters across all facets of compliance, enforcement, governance and recovery. The regulatory and audit landscapes continue to change, often contradicting one another as Holders strive to adapt and comply. From understanding the IRS’s recent ruling on escheatable IRAs to navigating the inconsistent application of unclaimed property laws among states, there are numerous and relevant updates to consider. Further complicating matters is the general flux of state statutes, as more and more states are adopting or considering adoption of the Revised Uniform Unclaimed Property Act of 2016. Moreover, FSOs often must balance their UP obligations against the demands of being a fiduciary and the requirements set forth by other external regulators and governing bodies, such as the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Office of the Comptroller of the Currency (OCC).
During this webcast, the panelists will provide an update on legislation, litigation, real-time controversy issues, industry responses and overall trends. The panelists will also discuss the impact on current and future compliance issues, in addition to identifying leading practices that are vital to an effective unclaimed property compliance and recovery program. Please connect with us for this important discussion while compliance efforts from the fall 2018 reporting season are top of mind!
The following topics will be discussed in the specific context of FSOs:
- Legislative, administrative and legislation updates
- Enforcement landscape
- Audit and Voluntary Disclosure Agreement (VDA) activity
- Compliance and asset recovery
Michael Giovannini, Partner, Alston & Bird LLP
Matt Hedstrom, Partner, Alston & Bird LLP
Sarah Toi, Senior Manager, Unclaimed Property and Escheat Services, Ernst & Young LLP
Darren Jack, Executive Director, Unclaimed Property and Escheat Services, EY Cayman Ltd.
Robert Bazata, Partner, Unclaimed Property and Escheat Services Leader, Ernst & Young LLP
Kendall Houghton, Partner, Unclaimed Property and State & Local Tax Practice Group Leader, Alston & Bird LLP